Chairman Mao teaches us: It is up to us to organize the people. As for the reactionaries in China, it is up to us to organize the people to overthrow them. Revolutionary Rebel factions unite to wage the Proletarian Cultural Revolution to the end!

毛主席教导我们:人民靠我们去组织。、中国的反动分子,靠我们组织起人民去把他打倒。革命造反派联合起来,把无产阶级文化大革命进行到底!
Mao zhuxi jiaodao women: renmin kao women qu zuzhi. Zhongguode fandong fenzi, kao women zuzhi qi renmin qu ba ta dadao. Geming zaofanpai lianhe qilai, ba wuchan jieji wenhua dageming jinxing daodi!
Chairman Mao teaches us: It is up to us to organize the people
ca. 1967
Revolutionary Rebel Command of the Shanghai Publishing system, Revolutionary Rebel Committee of the Shanghai renmin meishu chubanshe (上海出版系统革命造反司令部、上海人民美术出版社革命造反委员会)
77x53 cm.
PC-196b-002

The small caricatures below represent Monsters and demons - 牛鬼蛇神, Diehards who adhere to the bourgeois reactionary line - 坚持资产阶级反动路线的顽固分子, and The clique in power within the party that advocates the capitalist road - 党内主资本主义道路的当权派 (if we have read the characters correctly).
The text on the armbands: Rebel team - 造反隊 (simplified 造反队), Zaofan dui.