This kind of stuff happens everywhere. In my town we have a big spade. It's a brewing town (or was once) and is supposed to represent a malt shovel. It looks nothing like a real malt shovel, just a giant garden spade with a beer bottle cut out of the middle you can walk through. A tit whale balloon is at least interesting, but most cities have a budget for things that must be arty, and cannot be spent in any other way.
I don't have a problem with that really. They waste so much money on other stuff, why not something you can at least talk about?