Spotted this yesterday and then the artist at work on it again this morning. It's at the end of my street on the cnr of Beaufort. I have a sneaking suspicion this dude may be the same one that painted this.
edit: on further reflection and the advice of emma, this is unlikely to be associated with creepy's work on the old red parrot nightclub. I sense some influence though....maybe not.
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If you're a creepy fan, check out his blog: http://creepy.headtank.com/blog
Enjoy!