A spacey, slightly creepy Bicentennial-era clothing aimed to make you smile at A. Smile. If the facial hair on the dude in the front fused into one strand, and his ponytail(s) were repositioned, he'd resemble 1970s comic book character Man-Thing.
Source: Rolling Stone, May 20, 1976. Cover to Man-Thing #1 (January 1974) by Frank Brunner. - JB