A Times Square Elmo was busted in a sting operation by cops looking to combat overly aggressive panhandling by costumed creeps, sources said. A picture of the female character handcuffed and dressed in a fuzzy red outfit was posted on Twitter by the Midtown South Precinct Tuesday. Rosa Sanchez, 36, was busted after 10 plainclothes cops posing as tourists took photos with her Tuesday during a sting, according to law-enforcement sources. The Elmo was arrested at about 3:30 p.m. after she allegedly became aggressive over a tip she was unhappy with. When Sanchez was searched at the station house, cops found that she had about $200 in singles, fives and 20s in her possession, sources said. The panhandler was charged with aggressive solicitation on Tuesday night.