The only different cover is on later released Laserdisc versions - all other VHS copies retain it, as do all promotional posters and artwork prior to it - the VHS version was not the first version to have the alleged “phallus.”
Disney never “banned” anything - it was one store that removed the videos after a customer complaint, then returned them all 24 hours later:
Read all about it and see the pictures here. If someone is selling the “phallus video cover” on eBay it’s worthless, as they all have it. The only thing that might be valuable would be the altered Laserdisc version.