Yes, that's a lovingly-rendered drawing of Mary Worth's head attached to a sexy lady's head, smoking a cigarette, while Dick Tracy tells the chimera to stop sitting like that.
Context only makes it much, much more disturbing. Are you sure you want to know the context?
Okay, you asked for it.
That image is the last panel ofMike Peters' April 22 Mother Goose and Grimm strip, which alludes to 1992 Sharon Stone film Basic Instinct:Yes, this is a comic strip in which the punchline is Mary Worth's vagina.
I warned you.