This is either a hoax or shrunken down human remains.
The reason that there was never a creature alive of that size and appearance is because the human form has evolved to fit our dimensions.
A much smaller (or bigger) humanesque body simply doesnt function very well.
Take for instance the difference between surface and volume. Say something becomes twice as tall. That means that its new surface is its old one squared, but its volume is cubed.
You get tremendous problems with heat loss, (or retention, depending if you go bigger or smaller) the heart will either pump blood too slow to sustain life or it will explode trying to beat too fast. There are myriad problems that emerge trying to scale a biological form up or down, which is why you dont see it done in nature.
All dolphins are of a particular size range, as are all beetles. Beetles used to be bigger a long time ago, but there was more oxygen in the atmosphere then, which supported a bigger form.
All humans are of a particular size range as well. In our own species we see the health problems that come from giantism or dwarfism and that is, comparetively, not even such a huge size difference.
I'm afraid all sf stories of humans being shrunk to travel inside someone elses body or 50ft women are total and utter bunk.
And this, whatever it is, was never alive in the form as displayed in that photograph.
I believe we've talked about convergent evolution and evolutionary parochials before?
We can most certainly expect certain things about hypothetical alien life forms, such as two eyes at the front of the body near the mouth, an internal or external (or both) support structure, even vocal cords should be recognisable. They will likely display dimorphism, trimorphism or modular structure.
Edit: This new quote system is infuriating!
For the life of me I cant get the name of the person I'm quoting to appear. Ill edit it in manually ><.