This folk print is an example of the Russian art form lubok, simple woodcuts or engraving showing popular sayings or happenings among the people. According to WikiCommons, this is either a parody of Peter the Great's funeral procession, or just an example of a traditional "upside-down day," in which folk of all stations trade places for a day.
Whatever its purpose (anybody read Russian out there?) -- I find it bright, bold, and likable. Look for the mouse blowing a horn, and that one in front of him? That's a bagpipe he's tooting, I think. And I'm partial to the little guy reefing on the reins coming from the cat's muzzle.