This is the Keith Chatto cover to Page Publications' Terror Adventure #1:
It is a swipe from Famepress' S.A.T.A.N #3:
In the Chatto version the figure in the foreground is nude. This is no doubt partly intended as tittilation. However, there is some relevance to the story, as the figure is a wax effigy of a recently departed "hare-brained society dame", as one of the characters describes her.
Now, she is not nude in the story, but in my opinion the nudity, heavy black shadowing, and garish green and yellow skin hues differentiate the figure in the foreground from the two background characters more effectively than the original cover image.
Having said that I don't doubt that if this issue was published just a year or two later Chatto would have given the figure even more skin. I await subsequent reprintings of this story to surface.