It is of Image Yggdrasil the world tree in Norse mythology and Nidhug wraped round it. Nidhug was a wyrm which are more like massive snakes than dragons, he ate at the roots of the tree slowly killing it.
It was designed to look like it was made at the time rather than today but it doesn't come across in the pic at all well and just looks a bit crappy what with the cheapy table background and all.
