Craft a mesmerizing surrealistic masterpiece that unveils the whimsical fusion of a lizard and a jellyfish, giving birth to an enchanting alien-like being. The creature's iridescent scales shimmer with a rainbow of colors, reminiscent of the ocean's depths, while translucent tendrils cascade from its body like ethereal ribbons, gently undulating in an unseen current. Its big, luminous eyes glow with a mix of curiosity and wonder, reflecting the mysteries of the cosmos. The creature's form is a harmonious blend of reptilian grace and aquatic elegance, exuding a sense of otherworldly charm and grace. The background swirls with cosmic hues, hinting at the creature's extraterrestrial origins, creating a surreal and captivating atmosphere that draws the viewer into a realm of fantasy and imagination.