This strange little guy is a banded piglet squid. The “smile” is made up of chromatophores and the “hair” are tentacles. Any guesses about the thing that looks like a nose?
I thought this was fake when I first saw it, but upon further investigation I found that piglet squid are small (100mm) mesopelagic squid. The shiny part under it’s eyes are photophores, which make the squid look extra cute and dopey.
See this video for some footage of the piglet squid, and some other cool invertebrates! Some terrible effects, but still good footage from National Geographic.