Jeffery Goldberg thought the New Yorker cover was "exceedingly funny":
As someone who appreciates a good joke, as well as a bad joke, it bothers me that people are reacting so dyspeptically to the cover, and it's a shame Obama's campaign couldn't have laughed it off. In my limited experience, Obama is capable of humor, though he's not as funny as John McCain, the funniest person in the Senate, except for those times when Orrin Hatch goes blue. Also, Dianne Feinstein, who does one of dirtiest interpretations of "the Aristocrats" I've ever heard.
On the other hand, the WorldNetDaily crowd thinks it's true.