The question is not if you'd be willing to make a drawing. The question is whether it is OK for anyone to threaten you or even worse - to carry out the threats for something you hold dear and have expressed. I don't know if you are religious, if you have some strong ideals or positions... imagine an extremist group threatens to kill you if you keep speaking about it, whatever it is(religion, political ideas, etc.).
In this case the nature of the carictures is immaterial. It doesn't matter what they portray, I might not agree with whatever they portray or I might not find it tasteful or I might not find it particularly important as an issue, but the underlying principle is much more important to defend, because the underlying principle that protects their right to publish cartoons is the same one that will defend your right to express whatever views you hold most dear without fear of persecution or violence.
You understand that once those people and others are shown that threats and instilling fear works, there will be no end to it, right? All kinds of extremist groups will be able to silence all kinds of positions, simply through violence or threat of violence. Do you really want to live in a society where the only positions you can hear are the ones held by the people most willing to go through with their threats of violence, with the rest being either submitted into silence or killed for their ideas?