Wow! How could I not give this my full upvote? :<)
This seems to be a creepy metamorphosis of Hypersensitivosaurus indeed.

Love it!

P.S. Now I think of it, this could also be 'Eel-over-the-Place'. I had forgotten about this fishy fellow:

Eel-over-the-Place - Another Hypersensitivosaurus Character turned into art