Mundungus is pointing out Dolores Umbridge, who wears a bow in her hair. He uses "bleeding" as a mild emphasizing swear, kind of like "freaking" is in American English. "And all" is used in the sense of "and everything else", so he's pointing out the bow, and all of the ministry official attached to it.

Regarding Delores wearing a bow, here is a passage from the books:

When they entered the Defence Against the Dark Arts classroom they found Professor Umbridge already seated at the teacher’s desk, wearing the fluffy pink cardigan of the night before and the black velvet bow on top of her head. Harry was again reminded forcibly of a large fly perched unwisely on top of an even larger toad.

Mundungus is pointing out Dolores Umbridge, who wears a bow in her hair. He uses "bleeding" as a mild emphasizing swear, kind of like "freaking" is in American English. "And all" is used in the sense of "and everything else", so he's pointing out the bow, and all of the ministry official attached to it.

Regarding Delores wearing a bow, here is a passage from the books:

When they entered the Defence Against the Dark Arts classroom they found Professor Umbridge already seated at the teacher’s desk, wearing the fluffy pink cardigan of the night before and the black velvet bow on top of her head. Harry was again reminded forcibly of a large fly perched unwisely on top of an even larger toad.

I honestly don't think she wears a bow in the film, so they maybe accidentally included it from the text in the book:

"Little woman. Bow on top of her head."
He frowned, then added, "Looked like a toad."

Alternately, perhaps that particular newspaper image had her wearing a bow.