This is a mug shaped like the mythical Davy Jones (of Davy Jones Locker infamy). He wears a pirate hat and has a tentacled octopus-like face.

Some legends say that Davy Jones was the captain of the famous "Flying Dutchman". Still others portray him as the devil, and some say that he is an evil god of the seas.

This version is very close to the portrayal of Davy Jones in the film Pirates of the Caribbean: Dead Man's Chest (2006).