This quite outstanding example of public art, is taken from Leicester's "Creative Quarter", and is I'm told, part of a children's art trail.
It's actually pretty difficult to work out what it is, hidden behind it's shield of iron railings. My initial thought was that it was the candle from Disney's Beauty and the Beast (see below with his friend the clock).
After a really thorough inspection, I deduced that it's actually a representation of a weighing scales. I love how the artist has taken something really literal, and made it opaque and undecipherable. Top class public art.