As you can see from the Superman image, it's a variation of the old "Superman busts chains across his chest" image, which has been depicted by Joe Shuster, Neil Adams, and various anonymous DC staffers.
From the musculature of Supes's body, and the bone structure of his face, I'd say that this image is 1970s Curt Swan. As you can see, it's copyright 1976.
It's got a zipper all the way around, and an "Identification Card" in case you're rendered senseless by Kryptonite or something.
At about 7 inches across when opened, this wallet isn't really convenient for keeping folding money.
It is, however, about perfect for keeping friends' phone numbers, the note you intend to pass on the playground, the key to your back door, the dog tag given you by your Uncle Leon, the combination to your bike lock, and other important stuff like that.
To give you an idea of its size, you could zip up your Razr in it, just barely. But why would you need a cell phone, when you could just use Super-Hearing, and Super-Ventriloquism?
In July 1963, the truly with-it type of cat was reading Superman 158, which gave a lot of background information on the bottle city of Kandor, and introduced the names Nightwing and Flamebird to the DC universe.
