Real photo postcard of Paul Gunter on the front of a German-language New Year's card from 1911. He is tipping his hat and holding a jester's scepter, very much in the Vaudeville-style. Translated, the card reads "Good luck for the new year."
Photo of Gunter and two other photographers; they are outside looking at their cameras. The man in the middle has possibly been identified as Theodore Eitel.