this website, which it's only fair to say I found through io9. Dagon looks pretty awesome, too; as does a creature I feel sure the judge misidentified when he guessed it was a ghast (IMO, it's clearly a denizen of Innsmouth).
Anyway, looking at these images makes me think of the difficulty in turning creatures this squicky into subjects of mind control erotica. You can go the route Tabico and I did in The Icky-Squicky Spider, intentionally using the horror to illustrate the depth of the MC; or you can go the route I tried in Octopus Vulgaris, trying to find something beautiful amidst the squick. I doubt Lovecraft ever found anything beautiful in his creatures, and I have no idea if I succeeded or not. But I do know it's easier to make these things beautiful with words rather than images. Some of the student art I linked to above is funny, but the only one I'd call beautiful (Chun Lo's Dhole) looks more like something from an SF novel than anything from Lovecraft's mythology.
No, let's face it: if you ever saw one of Lovecraft's monstrosities in real life, it would be squicky, not beautiful at all. That's part of what I hinted at in Union, Reunion, when Allie has a moment, after submitting to the lake monster, where's she's hurting and horrified and thinks, "It's not supposed to be like this." That bit actually came from a dream of mine: a dream in which I submitted to a Lovecraftian monster and it was cold and slimy and painful, not pleasurable at all. The pleasure only came after I was "converted," which brings me back to the motivation of "The Icky-Squicky Spider."
I don't know; maybe you have to turn to Clark Ashton Smith if you want beautiful MC-monsters. I still recommend The Maze of Maal-Dweb, for all its overwrought prose. In fact, I recommend almost anything by Smith - and you can find it online at The Eldritch Dark.
But this was meant to be a post about Lovecraft, so I guess I've strayed a bit. I hope you don't mind. ;-) And I hope some of you will respond to these musings. Do you find anything beautiful, anything erotic, in any of Lovecraft's monstrosities? Do you have to reconfigure them in your mind, in order to do so? Or do you just separate your horror from your erotica entirely?