I'm not sure but I think this might be my grandmother, Loraine Gunzendorfer, and her brother, Wilton Gunzendorfer.
Here is the back:
Photo - August 1, 1909
Built by A.B. Gunzendorfer 1909
Construction - bolts and screws
no nails used
Value $100 - all joints halved
To be presented to Sig Levy Jr.
or Loraine Levy, Juniorette, on arrival.
This swing was built by my great-grandfather, Abraham Gunzendorfer, in 1909. And after it was complete, he took a photo of these two in the swing. In 1909 my grandmother would have been 13 and her brother 9, so I think this could be them.
Now Sig Levy didn't come into the picture until 1917 so I'm guessing Abe gave Loraine the photo with the note about a baby after they were married, or at least at some point after 1909. He must have been so excited for his first grandchild to be born!
What fun they must have had on that swing - I wonder where it is today.