Yeah, the skull of the creature is definitely more like that of a horse.
Kismet, your creature has alot more depth now, it's looking good. I think it could still use some more detail like spots and slime or something, but those tentacles are definitely looking like they have volume to them. Perhaps add an overlay layer (or something similar, play around with various layers) of various blobs of other colors like yellows, blues and greens (in moderation since its the complement of red). I'd be interested to see what you come up with. That way it won't look like such a big expanse of red, variation will add interest to the image. Maybe give him some variable stripes?
Mindbender, nice image. I love the styles of the old masters as well, your style is refreshing to see.
Hi 'Spoons and Nethri, I like both of your octopus studies, the broken line strokes that 'spoons uses are cool, and I like the color version of your creature, Nethri. Wish my color sense were that keen, perhaps it'll come with more practice, heh.
Rdhillon, your image rocks, not much I can say beyond that.
Here's some more progress, trying to make the snake-like body look like it is twisting logically. I included the reference I used for the mouth.
I played around with some color versions, but my color skills still stink, so I left it black and white for now, lol. I just finished reading 'Color Theory' by Jose Parramon, great book and I highly recommend it, and I started on 'Confident Color' by Nita Leland. I think that I just have to practice alot more to feel confident with color because, in all honesty, it terrifies me! :P