This is an adaptation of the classic Tiki Bob combined with some naval battle cruiser elements. The Bob head has his usual white face, cartoonish eyes, and small mouth, but the head is the prow of a battleship made of riveted steel, plunging through waves, and wearing a sailor's hat marked for the US NAVY.
From False Idol on Facebook:
"Meet Navy Bob!! Our first collaboration with mighty MP Ceramics! A celebration of both San Diego maritime history and adorable Bobness for our fifth anniversary. Navy Bob is setting sail today and being sold at our special events this afternoon. Limit one per person for $160 each, and only sold here."