I wonder if the "lil' Nessie" appendage might be a prolapsed bowel - maybe caused by decomposition? What's more interesting is that line of round scars on it's body - a fatal encounter with a giant squid? Oooh, I should be on CSI or Quincy...
And by channeling the pun-tastic spirit of Preacherman, I make that "Crime Squid Investigation" and "Squid-ncy".
I'm so sorry, that's the best I can do.