The original painting that this amusing skit is adapted from dates from the Italian Renaissance, and it was created between 1485 and 1486. Its original title was "La Nascita di Venere", but we know it better as The Birth of Venus. It shows Venus, goddess of beauty and love, emerging from a scallop shell on Cyprus. ”, the composition actually shows the goddess of love and beauty arriving on land, on the island of Cyprus.
However on our card Miss Piggy, in a long blonde wig, portrays Venus - and instead of the west wind, Zephyr, and the nymph, Chloris, who blow her safe to shore that job is performed by Statler and Waldorf - whilst flying in to cover her modesty is not one of the goddesses known as the Horai, but Kermit the Frog.
We believe it was commissioned from the artist Sandro Botticelli by a member of the Medici family, simply because the first time it appears is some time later, in 1550, at the Medici Villa.
This set was divided into a number of categories, and you can see those, plus images of all the cards at MuppetFandom/JHMTC.
As far as the belief that this is the first ever set devoted to the muppets, that is not true - that honour goes to a set issued in Sweden, called "The Muppet Show", and also it was a completely legal set, as on the reverse of the packets it cites "(c) Jim Henson 1976, 1977, 1978". Another misconception is that this Swedish set was issued by Samlarsaker, but that word simply translates to "Collectibles".