This was NPR's photo of the day on Wednesday--isn't it cool?
Here is the caption:
In the summer of 1937, Tony Sarg, an American puppeteer, illustrator, designer and painter, staged a sea serpent hoax in Nantucket. The serpent was one of his Macy's Day Parade balloons and must have been either terrifying or hilarious... or both.
Turns out their is a Flickr page with a whole slew of pics...