I liked http://www.thingiverse.com/thing:10487 by LeChuck42 so much that I started splitting the original STL file by hand in Sketchup immediately after he shared it to be able to print in 3 different plastics. He has since split the parts also so there are two ways of getting your multicolor tentacle.
I had to slice the 3 "suckers" on the body to get them to fit properly with the places I had created in the body since supports while printing these smaller parts create some problems. In the unibrow it gets hidden better so it si ok to use support.
The foot is countersank and the body has a little step that fits into it. The unibrow has a slot on the body too.
Print the body in Fruit Punch Magenta (MBI) with supports or use the version with the little stand
Print the foot and split suckers in Nuclear Green (MBI)
Print the unibrow in black with supports
Remove the supports and sand the bottom of the body for better fit in you decided to use the version without the stand.
Glue the bottom part of the suckers to the body, then the top part, then the unibrow and foot.