The clown is a Pierrot who is a tragicomic character chiefly known for his unrequited love for another commedia del'arte character, the lovely Columbina, and for his less than stellar intelligence. So Austria here is a bumbling fool who perhaps bit off more than he could chew by provoking the Russian bear. He has been knocked off his feet in dismay and is desperately holding on to the German eagle.

This page has a bit more detail on the other characters as well. The author of the map is described by the publisher (pdf) as "the well-known Anglo-Russian artist" J.H. Amschewitz, so it is drawn from the perspective of the Allied powers (properly the Triple Entente).