Behold, the very first endpage piece I wrote and drew for the videogame magazine PSM... The red lettering was done in-house at PSM, hence the repro from an actual magazine page.
This would be the first of many Metal-Gear-Solid-related jokes, and the first of many, many jokes at Raiden's expense... The poor guy.
Anyhoo, as the caption in the corner makes clear, this is a riff on one of the weirder items from METAL GEAR SOLID 3... The so-called "croc hat*", which I presume Solid Snake could use to sneak on people...? Dunno, never played the game. Wait a second... Would enemies blithely ignore the presence of a very large, very predatory reptile nearby?
*I think that's actually a gharial on his head, not a crocodile per se, but I might be wrong.