Intriguing

Strange. That's all I have to say.

So which one of them has the fetish?

The strangest thing ... this is a car commercial.

Ah Japan, you and your tentacles. Yes.

Looks to me that the plot runs something like this:
Oh no. I am a giant octopus and I am on land and dry. Help me.

Oh poor Mr octopus I feel your suffering.

I will help you Mr octopus by applying this moisturizer.

Oh yes. I am saved. --- Mr Octopus has what looks to be a octopus orgasm --

Product is displayed and announcer says something like 'save those you care about from dryness with this stuff'.

FTB.

Perfectly understandable.

Good one, Jives.

Is no place safe from SPAM?

I didn't realize Cthulhu was making commercials now.

I think that's an athlete foot medicine

It reminds me a bit of an old "Oil of Olay" commercial here in the U.S., where an alligator stalked around the model while the announcer droned on about rough, scaly skin. I wonder which came first.

Yep. Alex is correct, that's an ad for athlete's foot medicine. The announcer clearly says "mizumushi"; Japanese for athlete's foot. Oddly, the characters for that are water + bug.