Here's a quick way to do the tentacles, but for the rest of the body you should use different techniques.
So...
1-create primitive cylinder
2-under the "Polygons" menu select Tool Options > Keep Faces Together (don't forget to turn this on/off when needed)
3-in front view create a lenghty curve going along y-axis (start from the cylinder top, but don't let the curve touch it); press enter when you are finished creating the curve
4-now, select all of the cylinder's top faces and THEN the curve itself
5-Go to the Edit polygons/Extrude Face (OPTION BOX)
-in the option box select "Use Selected curve for extrusion" if it's not already selected and set "Taper" to 0.2 and "Divisions" to 25-30 and hit extrude!
6-there you have it, delete history FIRST and then delete the curve.
you can now make a texture and corresponding bump map to have a nice effect!
That will be it. Simple and short!
I hope you understand everything.