Yes, it's supposed to be a foot: a "Chinese Lotus (Bound) Foot" to be precise. (It's what the Chinese used to do to their women's feet, back when the thought of fallen arches struck terror in the hearts of mere mortals.)
Yes, it was for a podiatrist. Because when a doctor is forced to look at and/or handle other people's feet all day every day, I'm sure said doctor can think of nothing more appealing than eating a giant version of one of the most hideous foot deformities possible. ("Alright! Please, tell me you got Pistachio ice cream to go with!?!")
This is one instance where I actually pity the baker responsible; to make this, she had to reference an actual photo. (All together now! Ewwwwww.) Click here to see her Flickr account, which has a link to the photo.
B.F., I think the toenails have got to be the worst part.