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You could absolutely be sued. There is something known as "personality rights" or a "right of publicity". In short, every person has a right to his or her image, and can bar the commercial use of that image if there was not consent given otherwise.
For instance, if someone takes a picture of you, and then puts it on a billboard without your "release" (written permission) then you could sue based upon your personality rights. They would have to have your consent to do so.
In the same way, celebrities have these rights.
There are very few exceptions to these rights, the primary one being the "news reporting" exception. So when you see images of celebrities in public in tabloids, magazines, etc... those are reporting on news (arguably) and not using the likeness itself to sell an image of that person, but rather to sell the newspaper, magazine, etc... But if you were to sell posters or post cards with their images, that would be a violation of their personalty rights and you could absolutely be sued if you did not have a release from them first.
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