How to trace outline of 2d image as a 3d model?

I have a 2d image. I would like to use it as a Sprite3d object.

Obviously since it is a 2d image it is flat (which is fine) - but basically I want to use a 2d image as if it is flat so I can rotate the plane a bit, even if the third dimension is flat.

Is there some way to do this? The image has a lot of transparency, so would like only the opaque parts of the 2d image to be seen, just like if I used the 2d image itself.

Is there any way to do this programmatically ?
Alternatively, is there any way I can convert this 2d image to a flat 3d model (in any format - dae, obj etc) ?