Funny thing about this film: the 1965 theatrical release features comedic, oversized "censored" graphics in the scene in question, and this is the version on Blu-Ray and DVD.
However, in 1964, as part of MGM's promotional materials produced for theater owners to advertise their slate of films for the upcoming year, the short "MGM 40th Anniversary" has the shot in question completely uncensored.
Turner Classic Movies occasionally shows the film in it's uncensored form as well (which is where I first saw it).
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