Weegee was trying to ask to the cops about information for the city so he can rescue the lost artifacts so he can rescue his brother Malleo, but shenanigans ensued as the police caught him jumping on heads of civilian Koopa Troopas suspected of stealing the artifacts and this was the result.
I think it's supposed to reference Chai Kingdom from the first game, with its Pionpi and all, but that racist caricature doesn't even resemble those. Anyhow, this ad wouldn't have been acceptable at all today.
For that matter, why is there a Chinese dragon and a snail with earphones? Are these what the artist construed as Easter eggs? Are they a weird reference to any of the advertised games, or an attempt to target Spanish-speaking kids of the early 90's with something cool and relevant?
Or maybe, just some random background elements sprinkled with neither rhyme nor reason. Even the bull silhouette on the horizon is a bit out of place.