Grimpoteuthis aka Dumbo Octopus(:

Dumbo Octopus got its name from its ears because it looked like Dumbo the Elephant's ears. Dumbo Octopus also known as the Grimpoteuthis is a octopus found in the bottom of the ocean floor at the depths of 300-400 meters. Dumbo Octopus eat snails, worms, or other food by swimming up off the bottom and just hover a bit above the seafloor. They swim by using their fins, pulsing their webbed arms, pushing water through their funnel for jet propulsion, or doing all three at once. These octopuses can grow up to be about 20centimeters, they are soft bodied or semi-gelatinous. They have a pair of fin under their mantle and webbing between their arms.

http://www.mbari.org/data/info/grimpo.htm