You might be able to tell potential customers what you are attempting to do (negotiate a license) without publishing renderings of products bearing the intellectual property owned by someone else. If you are in negotiations to obatain the license, you should seek permission of the owner before publishing any renderings. If you just do it, and they find out, then you are likely to hurt your chances of getting a license.
Also, for any license, you should consult with your own counsel to make sure you understand it and that the license provides you with what you need.
This post is for general informational purposes only. No attempt is made to provide legal advice.
While I cannot give you legal advice in this forum, you should wait until you get your licenses before you start using logos that are clearly protected by IP rights of others. Don't start off with a problem. Talk to a local IP attorney on this before you do anything.
THIS RESPONSE IS INTENDED TO CONVEY GENERAL INFORMATION ONLY. IT SHOULD NOT BE RELIED UPON OR TAKEN AS LEGAL ADVICE. FURTHER, THIS RESPONSE IS NOT INTENDED TO AND DOES NOT CREATE AN ATTORNEY-CLIENT RELATIONSHIP.
If by "would it be okay" you mean, "would I definitely not get sued," I think you will not find an attorney who will answer that in a way to make you happy.
Consider how it would look to the Bulls marketing staff, if you started advertising laser-engraved footballs using a digitally altered image of a pigskin with the charging bull logo. Especially, consider how it would look, given that USF already sells footballs engraved with the "horned USF" logo - at $9.98 per ball, via the Barnes & Noble campus bookstore website. They might think you were trying to cut into their marketing revenues!
The same is true for pretty much any product you can think of - if it can be profitably laser engraved, then the logo owner either already has it engraved, or wants to control the engraving. Posting a photo of an unauthorized laser-engraved product, well, that's tantamount to waving a flag at a Bull.
You are not my client. I am not your attorney. The above comments are not confidential, not "legal advice", and not "legal opinion". I am licensed as a patent attorney and in the State of Connecticut. Retain and consult an appropriately licensed attorney to identify the laws and facts material to your concerns.