There’s something slightly unsettling about this picture, but I’m not sure what it is. It’s a man and a woman, obviously dressed up for Halloween or a costume party. He’s a skeleton and she’s a clown. From the clothing worn by the out-of-focus people in the background, I’d say this picture is probably from before World War I. C’est la guerre!
Literary Fictions 
The joker perhaps has a bell in her hand, but it is not lucid what that skeleton is holding.
It looks like he’s holding one of those old-fashioned noise makers that you hold by the handle and swing around in the air. It makes a grinding noise to show what a good time you are having.