Conservative Councillor Paul Cropper said: “I think it might be the hair. Victoria probably would have had a little giggle.”
Its sculptor Graham Ibbeson – also responsible for the Eric Morecambe statue on Morecambe promenade – has defended his work in progress.
He said the model actually represents a maquette – a small preliminary sketch utilised by architects – rather than the final design.
Mr Ibbeson told the Daily Telegraph: “People have reacted to it in a negative way because nobody’s seen the finished article. All they’ve seen is a small model.
“The worst criticism probably would be from the family. The family have approved the image and helped me get the image right from the get go, as well as close friends.”
The proposed statue already has a chequered history, with Wood’s family caught up in a behind-the-scenes row last year.
Her brother Christoper Foote Wood insisted he would own the statue on the date of its completion.
However, there were concerns her two children had not been consulted fully over the design or choice of artist. The two sides eventually reached an agreement.
Last night a spokesman for Wood’s estate refused to comment.