Captain Octo was just part of a larger piece I did for the 2006 Project Akon 17 staff t-shirt( which I'll post later). We had a Pirates vs. Ninja theme and thus the art had to reflect that theme.
I came up with this fellow before I had even seen previews for the second Pirates of the Carribean movie...so he's not a rip of Davy Jones, ok!
This is the only detail view of this image on the web, so it's an exclusive of sorts.