Born in New Castle, Pennsylvania, Cole—the third of six children of a dry goods-store owner and amateur-entertainer father and a former elementary school-teacher mother—was untrained in art except for the Landon School of Illustration and Cartooning correspondence course. At age 17, he bicycled solo cross-country to Los Angeles, California and back. Cole recounted this adventure in an early self-illustrated professional sale "A Boy and His Bike" (which has often been cited as appearing in Boys' Life magazine, but in fact the source of this article is unknown, but speculated to have likely appeared in Cole's hometown newspaper). Back home, Cole took a job at American Can and continued to draw at night.
