A rare treat for the collector of children's records or toys, these fabulous little treasures were made by Morgan Development Laboratories, Inc in Westport, Ct from 1956-1961. The records measure about 8 1/2" in diameter and have a larger than normal label, a portion of which is a little looping cartoon animation which plays by means of the Red Raven Magic Mirror which would be placed atop the record on your turntable spindle.
Some of the records are splatter vinyl like this:
And some are translucent vinyl in lovely colors like this:
From lists I see there were 20 Red Raven Magic Movie records but I had also read that there were up to 40 individual records as there were European and Asian versions of the animated records! You can see an example of it playing here:
There are 2 versions of the Magic Mirror that I am aware of. One is the type I have and show here which sits atop a short spindled record player and then there is another with a removable red top that will sit on a tall spindle. Those being produced in a smaller quantity at a later date in production and thus are rarer.