There are several different types of statuettes in the game; people have found the cat, but I don't think anyone has discovered an application for it. I found one fairly early in my game, and kept it thinking I might be able to sneak into some place with it, or spy on people, but it just sat in a chest at my base the rest of the game.
The frog statuette is probably the most useful one, since in that form you can move a lot faster than normal. Your alignment changes when you change form; for example, a spider statuette would allow you to move around orcs without being bothered, for the duration of the transformation.
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