"Ymerbrønden" (The Ymer Well) is together with the clock tower the most important landmark in Faaborg. It's a well that might seem very odd at first sight but it tells the story of the creation of the world in the nordic mythology. Audhumbla was the name of the cow and it was feeding the giant Ymer with her milk a long long time ago, according to the nordic mythology and therefore the well is formed by a naked man being breast fed by a cow. Ymer was not a very nice guy though so the good giant Odin killed him and used his body to build the world. This story is being told here with this sculpture/well that you have standing on the main square in Faaborg. It was sculptured by local artist Kai nielsen in 1913 and it is actually a replica you see on the main square as the original one has been moved down the road to the local musem where it is better preserved.
When the sculpture was presented in 1913 there was an intense debat in Denmark because of the man's nudity.
Source: Virtual Tourist by Cachaseiro