If you watched the last episode of Lost you saw this statue in one of their flash backs in time.
I remembered the foot they found in a previous season, which was what remained from this statue. They have also talked about a pyramid being on the island as well. This obviously shows us that there was some sort of ancient civilization that inhabited the island.
My new theory is that this is the lost civilization of Atlantis. Atlantis was known to be a technologically advanced civilization, which may have not existed but is thought to have just vanished. I think that this is the lost island of Atlantis, I guess we will find out soon enough but that is my best guess.
