A site-specific 30 foot sculpture created by Jonathan Borofsky in 1989. Well, semi-specific, in that a nearly identical piece has been on display in Aachen, Germany. As installed, the right foot would slowly kick back and forth, 24 hours a day, but after about ten years the mechanism pooped out. It's gotten kinda dirty over the years and could really stand a good cleaning.
Wikipedia article:
http://en.wikipedia.org/wiki/Venice_BeachCategory:
sculpture mechanical clown