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The original LP cover featured a peel-able banana sticker, as indicated by tiny font reading "Peel here and see."
This is what you got when you peeled off the sticker. A flesh-colored banana.
Clockwise from the top left, the picture shows, viola player John Cale, Nico, Maureen Tucker, Sterling Morrison, and Lou Reed.
Producer and artist Andy Warhol (second to the left) joins the group for a photo.
Lou Reed, writer of all the songs, has a look about him.
Here's one of Warhol's more famous works. He was concerned with replication, celebrity, and artificiality.
Here's the cover for the album.