It's an issue of the French satirical magazine Le Grelot, in particular issue 5: this was one of several issues published in Paris during the Commune.
I don't know what surprises me most: that copies of such publications have made it to the present day; that they've done so in reasonable conditionl that they aren't expensive to buy; that Le Grelot wasn't immediately shut down by the Central Committee (it was on the side of the Republic, not of Paris) or that it had a full-colour front page in the middle of a siege.
It's fascinating to read contemporary gossip about figures I know from discussions of historical events in books.