Thanks for the ID.
The best way to describe the articulation is a universal joint. the tops section rotates 360 degrees. The "jaw" opens and closes.
The bottom 4 legs and top 2 legs have a full shoulder rotation as well.
The battery operated sound makes a "crunching, munching" noise.
It will be a cool piece to make a few action figure scenes ...
here is the monster in action http://www.youtube.com/watch?v=84k8GsLNmCc