This will require some thought and a few rubs on the eyes.
Yes, it's a frog.
No, it is not Photoshopped.
Would you believe that there's a BAT in that frogs mouth? According to the Blog on PeruNature.com, this is a rare, and perhaps first, sighting of a cane toad feeding on a bat. This photo was taken at a remote guard station in Peru by park ranger Yufani Olaya at Cerros de Amotape National Park.
On the blog, Olaya described the toad's success as "out of nowhere the bat just flew directly into the mouth of the toad, which almost seemed to be sitting with its mouth wide open." With toad-like reflexes, this cane toad was able to snatch the unsuspecting bat right out of the air as it flew too close to the ground, and apparently directly at the toad's awaiting mouth.
Read more about this rare sighting at blog.perunature.com.