Apparently the title-page of a pamphlet, or perhaps printed as a handbill. Title is in letterpress. On the verso, also in letterpress, is two-thirds of a page of text, headed "Per Philippum Melanth".
This woodcut is notably similar to woodcuts in Melanchthon's pamphlets in German: see eg. Melanchthon, P. Deuttung der czwo grewlichen Figuren (J. Rhau, Wittenberg, 1523). There are various differences: notably the design is in reverse and the landscape simplified.
The subject of this image, the monstrous Monk Calf (much debated in propaganda from the Reformation period) also appears in Peel 0093. Luther and Melanchthon collaboratively produced pamphlets of their interpretations of the Monk Calf and the Papal Ass, two contemporary monsters or misbirths which were popularly believed to be omens of religious/political significance.