Yep, it was the 70’s

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I remember my elementary school had something we called a “witch’s hat.” It was a tall pole with a ring suspended by chains to the top of the pole and the ring could spin around. A bunch of us kids would grabbed the ring and a group of us would push down and in on the ring; this would cause the kids on the other side to go flying around as the hung to the part of the ring that went up. They would then come back to the ground and push so we could go flying. Around and around we would go until recess was over.
I think that part of the playground was either asphalt or gravel, so that was extra incentive to not let go of the ring.
Fun times.
Those cars look a lot like 1950-1951 Studebakers, and the clothing looks more like late 50s/early 60s.