Old Man Logan (2015) #1 variant cover (Wolverine)

I've always loved Skottie Young's "baby" covers for Marvel, they are a perfect combination of adorableness and comedy. So I thought it was time to own an original piece of art from one. The first Old Man Logan story is one of my favorite Wolverine stories.

It's hard to see in the scan, but the original word bubbles (2) are in blue pencil and say: "Young Old Man..." "...Doesn't even make sense".

I'm still trying to figure out what the red and yellow cylindrical object in the bottom left corner is, so please help me out if you have an idea.