This mug depicts a Lono tiki trying to avoid being eaten by a gator while holding a cocktail umbrella (hole in hand for actual umbrella).
From Lost Temple Traders:
"Welcome curious travelers! The idol we present for you this evening is as peculiar as any we’ve ever come across. Part New Orleans voodoo and part island deity. One thing is for certain, when you imbibe from these haunted spirits, the room will feel like it’s stretching. This is the Limited Edition 250 Ghost glaze variant Haunted Spirits: Gator mug. This mug is being produced by Munktiki Imports."
The design is a "tikified" play on one of the stretching posters in the Haunted Mansion attraction at both US Disney theme parks.