Shelob was a horrible creature in the form of a giant spider. She had existed in Middle Earth for many years since the First Age of Middle Earth. She lived in a cave and guarded this passage to prevent entrance to Mordor (and fill her belly). She captured Gollum when he tried to escape Mordor and made him promise to bring her food, and when he did (in the form of Sam and Frodo) she was blinded and stabbed by Samwise and slipped off, presumably to die of her wounds.
This figure was originally going to be a deluxe figure, but it never got past basic design and conceptualization. It is unlikely that this figure would have had any variations, but would have just come in one variety. She would have come with a dried orc victim as an accessory.
There are seven conceptual drawings and six are shown below, with the upper right image being one of the early concept drawings of the head.
