This is an ad for Mattel's Chopcycles, toy racing cars (or motorcycles, in this case) that run by charging them up from a battery with wires sticking out. Seems pretty fun, except for the fact that as described, "Rip-Snortin'" sounds like something that would cause havoc on your mucous membranes.
Here's a video of the actual toys in action from a guy that likes them so much he restored the chassis on these bad boys:
Incidentally, the art on this ad is very similar to an ad I'd featured previously for a Mattel-Monogram car model kit (one that did not snort rips), which explains the similarity.
This ad for Mattel's Chopcycles ran in Amazing Spider-Man #117, February 1973.