"装饰船头的雕像" can be translated into English as "the figurehead adorning the prow of the ship" or more simply "the ship's figurehead".
"Figurehead" specifically refers to a carved or sculpted decoration on the bow (prow) of a ship, often symbolic or ornamental in nature.
"Adorning the prow" adds context about its placement, though it's often implied in the term "figurehead."
Both versions are correct, but "the ship's figurehead" is more concise and commonly used.