This thing looks like the Kraken! Blogger Scott C. Waring posted these images from Google Earth:
Here is a close up:
Remind you of anything?
According to the Google ruler the creature is 30m long, but including tentacles it could easily be over 60m!!!
Don't believe me? Go there yourself on Google Earth! The coordinates are: 63° 2'56.73"S 60°57'32.38"W