This statue is called Fat Monkey and was built in Sao Paulo, Brazil, during Pixelshow Design Congress 2010. It’s made out of 10,000 Beach Thongs(flip flops).
Think it is pretty cool. Everyone would wish to see something like this. Created by artist Florentijin Hofman. People take pictures in front of the sculpture “Fat Monkey” in a park in Sao Paulo, Brazil. The sculpture Fat Monkey, which was designed by the Dutch artist Florentjin Hofman, is made up with thousands of colorful chinelas. The sculpture with the size of 5 x 4 x 15 meters is composed of inflatable and flip flops. Hofman’s project is the product of the Brazil Pixelshow. Artists were encouraged to make a sculpture during the conference.(source)