Does anyone recognize the parts of this Frankentoy?

Before I go any further, let me say I know the answer. Anyone else?

Few things sadden me as much as a good toy gone bad and this is a double shot... The prior owner melded two perfectly good toys into one mash-up. Can anyone deduce which two toys were made into this? They are both circa 1950 or so, if that helps.

I'll stop back in a while with the answer. (PS - A hint is in the categories I selected, but don't peek!)