From Glen Vaudrey:
When I saw the picture a couple of days ago, I remembered straight away where I had seen it before: Fortean Times issue 93 December 1996 pages 36 & 37. Even then I thought it was a model stood in a pond; it's the pond weed and grass that give an indication to the size of the creature - at a guess around 6 inches tall.
Having studied the pictures in a little more detail, I am confident that I could make one and have it photographed for a CFZ exclusive in less than two weeks.....
I am really enjoying this saga, and have no idea where it will end. I hope that Glen manages to fake-up an approximation of the same picture. I, too, had my suspicions that some of the vegetation in the left hand rear of the picture was lemna sp duckweed. Maybe it is a mini-water-blackfella...