A staple of classic DnD, Blink Dogs are intelligent with a highly annoying special ability: short distance teleport. Bite and teleport away. This is emblematic of old style play where each monster was a sort of puzzle to solve. How to deal with intelligent pack monsters that can coordinate and can avoid your attacks while it can attack you. The answer is, of course, Fireball. Which is almost always the right solution. Right?
I cannot identify the artist who drew this. I think it might be Roslof, as it is reminiscent of his painting style (see the cover of Keep on the Borderlands) but can't be sure since it doesn't have as much dynamic energy as many of his drawings demonstrate. There is no signature or credit.
When looking through the monster cards it really strikes me that I would have liked to see a new edition of the classic Monster Manual that used all of this color art. The rebranding with the Jeff Easley cover would have been a good time to do a "1.5" edition with updated stats, like including the XP rewards. It really is surprising how neglected the core books were during the 80's heyday of AD&D.