The Octopus was the name given to a pair of conjoined twins who used to work in a sideshow for Marcello. The twins founded an orphanage, where they taught children to steal for them, cruelly threatening to put them in "the hole" should they fail. When the circus strongman One came around looking for information on the Cyclopes, his strength impressed the Octopus who convinced him to go with Miette and the other orphans to steal a safe.
Unknown to them, however, One dropped the safe into the bay (where it was recovered by the Diver) and along with Miette went searching for his brother. When Tadpole returned with this news, the Octopus assumed One and Miette had stolen the jewels from the safe. After learning from Melchior that the Cyclopes intended to drown the pair, the Octopus returned to their former employer Marcello and blackmailed him into using Fleakins to rescue One - but not Miette.
Miette however was rescued by the Diver. When the Octopus learned of this, they took Fleakins and used him to drive One briefly insane so that he would kill Miette. However a ship hitting the docks interrupted this. Miette and One were trapped in the water and the Octopus poured gasoline in, intending to burn them to death. Before they could, Marcello appeared, and upon being bit by Fleakins and hearing the organ music, the twins fought one another and fell into the gasoline-tainted water. Marcello helped One and Miette climb out, then threw a lit cigarette in after the twins, and the Octopus was burned up.