Card fronts show a black-and-white image of the player, surrounded by a black border, against a color background. Below the player section is a banner graphic giving the player name, position, and years active, as well as a facsimile autograph. Below this is the name of this set, 'Connie Mack's All-Time All-Star Team.'
Card backs give a block of text about the player's career, and at the bottom, instructions on how to punch out the image, as well as the set total.
This odd issue - along with the same year's Major League All-Stars punch-outs - apparently came in boxes of Topps Baseball Candy. (1951 Topps Teams as well?) See the illustration for the entry for the 1951 Topps Red Backs.
Naturally, punching out the player image from the rest of the card severely damaged the value, so that not quite so many examples have survived to the present day unscathed, thus increasing their price among collectors when an unpunched example can be found.
Cards in this set included:
Grover C. Alexander
Gordon S. Cochrane
James J. Collins
George H. Ruth