This is a hanging sculpture of Sigmund Freud. Its interpretations are quite varied, depending on the particular source accessed.
One such interpretation: Freud had a severe phobia about his own death - should he hold on or let go. In the end, I think Freud chose assisted suicide. (Apparently, he also had a fear of heights.)
The powerlessness and hopelessness of man in the modern world, but not willing to let go. Why the subject is Freud may be related to the question of what role intellectuals would play in modern times.
Whatever the interpretation, the structure is certainly novel..
Situated along Husova Street. If you’re heading down towards Charles Bridge from the Old Town Square, along Karlova, keep an eye open for Karlova’s intersection with Husova. Turn left and keep going until Husova Street becomes Na Perstyne (~ 210 m.). Then look up.