Storyline
A black-and-white image of the real-life Walter Lantz (the creator of these characters), draws a concert scene played by Woody Woodpecker, Andy Panda, and Oswald the Rabbit, who are drawn in full-color.
Story Notes
Though Woody, Andy, and Oswald appear in full color, their "boss, artist, and bandleader", Walter Lantz, is pictured in black and white. Lantz's pose could could also be taken for his leading the band, as well as drawing it.
The unusual presence of Lantz on the cover practically overshadows the gag of Woody's long beak being used to hold his sheet music which, under any other circumstance, would be the main gag.
Lantz also interacts with his characters on the cover of #270 (the previous issue), where he also appears in black and white.
Conversely, other covers around this time have a small color head-shot of Lantz seen on the picture tube of a cartoon TV set. Nearly all television sets were of the black and white variety in 1959, despite Lantz being pictured in color.