AlphaBeasts! is Wanyūdō, a yokai that takes the shape of a flaming wheel bearing an anguished, disembodied face. If you come too close, it's likely to steal your soul & roll it back to Hell. I think the kids in the background are probably wise to keep their distance, but hey, I guess it is "some tire"!
Acrylic on ad scanned from St. Nicholas Magazine, August 1920, ~6.5"x9"
edit: Joey Weiser sent me a fabulous YouTube clip of Gegege noKitaro featuring Wanyūdō!
edit #2: EC Steiner (a.k.a. King Unicorn) sent another Wanyūdō cameo, this time from The Great Yokai War! (The big wheel makes his appearance around 1:33.)