Perfect positioning of an image on top of text

Based on this perfect answer, using pullquote environment, following code maybe help:

\documentclass{article}
\usepackage{tikz}
\usepackage{lipsum,graphicx}
\usepackage[latin]{babel}
\usepackage{pullquote}

\usetikzlibrary{shapes,backgrounds,calc}

\def\mygraphic
{%
  \begin{tikzpicture}
    \node (0,0) {\includegraphics[width=4cm]{example-image-a}};
  \end{tikzpicture}%
}

\begin{document}

\begin{pullquote}{shape=rectangular,object=\mygraphic}
  \lipsum[1-4]
\end{pullquote}

\end{document}

wrapfig isn't actually suited for this-- I came to realize-- thanks to the interesting question put up @永劫回帰 (the package documentation particularly warns: "It does work in two-column format, but are your figures that small ?" Rather the previous answer @ferahfeza seems far closer up to the mark !

But still, there are situations where one tries and tries one's own way... even to fall short of perfect success. The trial should count, I believe, at least in terms of developers. So, I'm posting this answer fully aware that it might be too clumsy to implement (at least when there's a straightforward pullquote), but could extend the wrapfigure environment to somewhere its developer Donald Arse­neau might not have wondered when creating it sixteen years ago !

Here's my tailored solution, inspired by a ctan documentation:

\documentclass[twocolumn]{article}
\usepackage{lipsum,graphicx,wrapfig}
\begin{document}

\lipsum[1]

\begin{wrapfigure}[15]{r}[0.35\columnwidth]{5.2cm}
\includegraphics[width=5cm,height=10\baselineskip]{example-image-a}
\caption{This wrapfigure spans two-columns of text}
\end{wrapfigure}

\lipsum[3-5]  %  deciding the break is vital to the 
              %  nice functioning of a 2-col wrapfigure

\begin{wrapfigure}[17]{l}[0.35\columnwidth]{5.2cm}
%  this only creates free space without inserting anything
\end{wrapfigure}

\lipsum[6-7]

\end{document}

producing this output: