This is KP's monster pet centipede, Snare. By his master's command (and entertainment), Snare enjoys terrorizing the citizens of Rage Valley. Although intimidating by appearance, this centipede is lovable and huggable... around KP.
For those who haven't seen the post about KP's background, his pet centipede comes from one of Knife Party's songs, "Centipede".
"Bonfire" is another song name from Knife Party, from their new EP called Rage Valley.
I'm excited for their new EP! It's gonna kick ass. :D