This just in from Gunnar Andreassen:

[Have you ever seen Walt Disney ridin' on the Big Bad Wolf ?

If not, see the enclosed drawings from Hearst's International/Cosmopolitan, Feb. 1934.

It was made by the Cuban caricaturist Conrado Massaguer, who seems largely forgotten today.

An extract of his life story, ( and examples of this art) see this link.

On another page I found a photo of him and WD, taken outside the Disney Studio in 1951.

Massaguer claimed to be a friend of Walt, and wrote an autobiography in the 1950s.]