A fellow reader of the Hurdy Gurdy Mail list pointed this out on ebay today. Pretty strange. Even stranger is the fact that the game, New Rainbow Islands: Hurdy Gurdy Daibo,
is around 4 years old, and no one I know has ever heard of it. From what I can tell, (it is in Japanese after all) Bub and Bob shoot rainbows from traditional French luteback hurdy-gurdies in an attempt to defeat an evil record label. Something that MANY of us wish we could do, actually.
Follow the ebay link for a more detailed description of the game.
I just tracked down a used copy, and can confirm that the actual game is also pretty incomprehensible. Here is a more detailed print of the front and back art.