Do you believe on this creature?

Last time when i talk with my co-worker before, he send me this photo on the unbelieving creatures and he said that photo is taken in Cebu City. I dont believe it because the photo is look like a mascott or something. But many people believe that is an ugly sea creature. They called it "Shokoy". hehe :-) What you think people? do you think this is real or fake?