Can you furnish a photo of the bottom, back?
Clearly it is a homemade figurehead. I would think that the hole on the bottom is to affix it with a peg to an object(boat) and to see where it was found it almost has to be from a small ship or boat where it was mounted on the prow. So you are correct about a 'redneck' yacht club (but maybe from only one male person). The definition of a figurehead is "a carved wooden decoration, often female or bestial, found at the prow of ships largely made between the 16th and 19th century"; so that checks out, only the age is modern.
The tack, my impression is to keep her from chatting or talking, thus a tacked up mouth.
My husband thinks she had a light inside her to make her ta-tas light up. Could be but then there has to be a hole or holes connecting from a battery or electric source that would go to the lamps inside; and maybe an indication of wires to the lamps.
About the screw/washer and wire on the bottom, have to think about that for a while...... Have a little idea but I think everyone has to decide for themselves.
And yes, she made me smile, every time I looked.... I guess that is something, if I owned a boat, that I myself would attach to the prow (and I am not even a redneck or am I).... just to give me (and others) laugh once in a while. Don't kick it, it could have some (or a lot of) value seeing the posts..... who knows?
I think I found the artist who made it (only he has now became commercial and moved on to other objects). Here he with a couple of his 'figureheads'.
@ Doc!
