I think this appeared in the old Electric Company magazine. I have very fond memories of that magazine and also the Spidey Super Stories comic.
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The Electric Company was a great educational kids show, which I saw back when PBS ran reruns of it during the 1980s after it got cancelled (and of course the Spider-Man segments were my favorite). I’ve heard PBS came up with a new version of the show a couple of years back that lasted for a time, but never heard much about it.
I remember watching these as a kid. Electric Company Spidey stuff was awesome and I really liked watching Bill Cosby, Freeman and Rita Moreno on that show. Rita Moreno was also great on the Muppet Show! The kid version of me reaaally had a thing for Rita back in the day. 😉
The actor in the picture is Morgan Freeman playing Easy Reader.