Sculpture?

On my way to work, I pass through Olney, a very picturesque town in Buckinghamshire countryside. In the last few weeks, I have noticed this sculpture(?) in the market square.

A blipper pointed out (please see the first comment below): this sculpture is to mark the pancake race that they have in this town on Shrove Tuesday - a tradition that goes back to 1445.

The details which link the design of the sculpture to the pancake race are:

"Tradition records that back in 1445, on Shrove Tuesday the "Shriving Bell" rang out to signal the start of the Shriving church service. On hearing the bell a local housewife, who had been busy cooking pancakes in anticipation of the beginning of Lent, ran to the church, frying pan still in hand, still in her apron and headscarf."

So now we know!