The incident happened in Market Square, Eynsham on Sunday, May 18 at about 1.30am.
Thames Valley Police said the sculpture, which had been donated to the parish council, was damaged by a man who was accompanied by a woman.
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The police force is now appealing for witnesses or anyone with information to come forward.
In a public appeal issued today (May 29), it said: “If you witnessed this incident or have any information that may assist the investigation, please contact the police by calling 101 and quoting reference 4325020415.”
Eynsham’s Market Square was renovated in Golden Jubilee year 2002, with substantial funding under a West Oxfordshire District Council Environmental Improvement Scheme.
