This artwork is one altered panel from page 27 of the manga Cambrian by Miyama Noboru:
In Cambrian, “Dr. Yamagishi was expelled from an academic society because he had tried to make a human clone. Next theme of his study was a new human species Cambrian. He made himself a test target. However, he turned into a chunk of grotesque flesh, and it began to rape women with its tentacles.”
The complete comic book (which is book 1 of 5 in the series) can be viewed starting at this link.
Original post here (n.b. probably for Infernal Wonders). Image provenance by Bacchus at ErosBlog.