looks like a mutant smiley, I will be praying. -)
The guys at Eye of the Tiber had sort of the same idea along with some Eighties nostalgia:
http://www.eyeofthetiber.com/2014/07/19/mosul-muslims-delight-christian-neighbors-with-one-eyed-willy-smiley-faces/
(For those not familiar, Eye of the Tiber is to Catholic news what The Onion is to secular news.)