You're looking at an elder god, playing with a pinwheel. For your own safety, don't look him in the eye, you don't want him to gaze into the depths of your mind and cause you to lose your grip on reality.
Just kidding, y'all. This is your standard Kid Robot Munny (4" tall maybe?) figure that has been transformed into Cthulhu. His tentacles have been sculpted, as have his eyebrows and his tiny little tail, and he's been given a mottled green paint job. His eyes have been glossed in several layers of colored glosses as well as acrylic paints. He holds a cheerfully-colored plastic pinwheel, and much to his eternal frustration, he's unable to blow into it because of tentacle interference.
His arms and pinwheel are glued in place to avoid damage.