Check the link, it's an upcoming game. Inspired by terraria, but the devs are making sure to learn from the mistakes that were made. :3 These are randomly generated monsters, apparently every creature has a baby and an adult version so they can be caught as babies and tamed to be pets for you.
I see how it can be interpreted like that, however I originally (and still) saw it as a collar of some sort, as the purple outline goes over the spikes/wing part behind the head.
The design on the sprite is somewhat ambiguous looking anyway - what is the bone flap going down the side? -, so I wouldn't be adverse to having multiple representations of what it would be. The teeth can be seen as strips of eyes as well. c: