Q: What's black and white and read all over?

Q: What's black and white and read all over?
A: A newspaper.

This is a classic riddle. The listener is supposed to hear "red" instead of "read", since the earlier part of the sentence has multiple colors in it.

This riddle (while not really that funny) has a bunch of spin-off jokes where the jokester sets up this riddle and then follows through with something that is actually black and white and red - circumventing the listener's expectations.