Bit of a late entry here, but I'm feelin' good about it. Here's where I'm at right now.

Oleovathys was once a peaceful ocean spirit who was corrupted by the machinations of men. The idea here is to draw inspiration from things like machinery, oil spills, and some more macabre imagery showing death and decay (I've spare y'all the worst of it.
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I've settled on the octopus-legged one and have began doing composition thumbnails.

I mostly know which composition I'm gonna go with, but I gotta do some refinements on them just to be sure.
More updates soon!