Found this via Pharyngula:
This has to be the silliest kitchen tool even made.
Insert a hot dog, and use the eyes to hold the hot dog in place. Slide the holder down, sliceing your hot dog into 8 perfect tentacles. Remove the frankfurter and you have an edible octopus, eyes and all!
This is a very high quality tool. The bright colors and fun results make this a great gag gift for the kids.