This is what's locally called "Kabouter Buttplug" (roughly translates as "The Buttplug Gnome") (pic here http://www.kabouterbuttplug.nl/), modeled after the larger than life statue by Paul McCarthy.

The statue is now standing in the courtyard of the Boymans van Beuningen Museum in Rotterdam, Netherlands, where it was moved after it proved to be too controversial (even here!) to be placed in a public square.