Things like this have been going on for quite awhile, and my jury is out on if its a good idea or not. I just wish the artwork itself was of higher quality, I dont know that its enough to fool anyone, though possibly from a distance. In addition, the article says:
“The majority of cyclists share the space amicably. However, there are a handful who refuse to slow down. That’s why we commissioned this art – we hope it will shock.”

shocking!
If there are only a few cyclists who are riding dangerously, and either see this article or ride over this once its purpose is all but lost.
Although im certain it will terrify people that have sight issues for years to come.
I think that alligators or a lion would be much more effective, or tried and true traffic calming devices such as this policeman:
Yes, shoving cyclists to the ground certainly does slow them down considerably.