I'll bet you haven't seen this one before! Clowning around on Kingswell Avenue, summer 1925.
The Harman brothers and Rudy Ising had recently arrived at the studio and this is a photo taken by Walt the same day he snapped the studio staff portrait in front of the "Disney Brothers Studio" at 4649 Kingswell Ave. The staff portrait appears in several books -- see Merritt and Kaufman' s "Walt in Wonderland" (page 85)]
By the way, Joe also noticed that one can distinguish the reflection of Walt on the door in the photo of Rudy Ising and Adolph Kloepper that I posted last week.