The logo is very much a product of minimalist industrial age graphic design. The bold, simple forms are evocative of a ball, the point of contact, motion, the shape of a goal. WM is short for Weltmeisterschaft which means World Cup in German.
Two boys wearing the white shirts of Germany, one shirt with with the letters WM (Weltmeisterschaft, German for World Cup) and the other with the number 74 on the front.
Artist Horst Schäfer painted this using big impressionistic dabs to equate football with art and beauty, although the subject's thigh seems to be coming from his waist rather than his hip and his head looks a little alien. But then great football isn't just about looks...
Due to the success of the adidas Telstar balls used in the Mexican World Cup, adidas did not come up with a completely new match ball for the 1974 World Cup, they rather redesigned the old Telstar by applying some minor changes.