The printer thing is a teletype. Think of it as a terminal onscreen, but...the text actually gets printed to typewriter paper line by line. The phone thing is a

The printer thing is a teletype. Think of it as a terminal onscreen, but...the text actually gets printed to typewriter paper line by line. The phone thing is almost certainly an acoustic coupler for a 300-baud modem, hooked to the teletype. You'd dial the modem pool for the server you were trying to connect to, and when you heard the happy modem noises come through the handset, you'd slam it down on the two rubber cups, and your modem/terminal would do the Hayes AT dance, and a point-to-point data connection would be established. 300 baud was good for printing teletypes, as the mechanical printhead can only move so fast....