What a curious and charming old drawing! The handwritten cursive running along below the image I believe reads "Me Take You Likeness Mitsi," I assume articulating the action of the seated artist, engaged in drawing the old woman, presumably Mitsi, standing before him. A curious model she is, and what is with this giant hand she is holding out toward him, dramatically contrasting with the second little arm and hand at her side? She seems only to have one leg, too! The proportions of everything, really, are wonderfully off, and the specifics so great, from the details of his cap and upturned collar to the cane she holds, the energetic cross-hatching on her dress, and that pointy nose and chin! I really could not love this more.
I'd guess, especially based on the name Mitsi as well as the use of "yo" for your, that the artist here was German American, and, based on the clothing and hat, especially, that this drawing dates to the mid- to late 19th century. The drawing is done in graphite on paper, and mounted rather crookedly (via tape in the top corners) to matte board. Unframed, it is in good antique condition, with some aging/darkening to the paper but the drawing itself is in very good shape. The drawing measures 7 1/8" x 6"; the board on which it is mounted measures 9 3/8" x 7 3/8".