The card says: "Scholem Alechum" or "Peace be with you". It shows two Jews fighting, pulling at their beards.
This is the stereotype of a Jew with large noses, wearing different coats and sidelocks.
Artist prepared an artwork series showing different stereotypes as animals. For a Jew he used the skullcap and prominent sidelocks (or payot)
Sidelocks in English, or payot in Hebrew, are worn by some men and boys in the Ultra Orthodox Jewish community and is based on an interpretation of Jewish law's injunction against shaving the sides of one's head.