We can imagine a wild situation as Carnival in the "right-after-the-dark-ages" times would present a little bit of every behaviour.
We see here represented a specimen of a masked guy threatening the lady with a huge knife to receive sex from her.
The guy with the knife is called, in another printing, "Burattin" (Puppet), but maybe in those times it could have had a different meaning.
Is it a bad taste joke or a real threat?
I have no idea, I am just passing the testimony around.
"Di quel ch'io chiedo non mi far mentita
Che se salvi l'onor ti va la vita"
"Of what I am asking don't give me a denial
Because if you save your honor you lose your life
"