Life — July 31, 1924 — page 17: what you’re looking at

What you’re looking at

This cartoon depicts two exaggerated caricatured figures in what appears to be an alley or confined space. Both are drawn with grotesque features typical of early 20th-century satirical cartooning. The figure on the left wears a white vest or shirt front, while the right figure wears dark clothing with what appears to be a bandana or scarf. The caption "But Who Laughs Last—" suggests a commentary on comeuppance or ultimate victory. Without additional context identifying these specific figures, the precise political or social reference remains unclear. The artistic style and composition suggest this is satirizing some contemporaneous conflict, rivalry, or ironic twist of fortune, likely referencing recognizable public figures or events from Life magazine's period.