Located outside the Franz Kafka Museum, the Peeing Statues are one of the most controversial sculptures by David Černý whose provocative modern art is spread around Prague. You will notice that the shape the guys are peeing at is actually...the Czech Republic.
It is right behind the Charles Bridge and quite easy to get to. The sculptures are a great example of the Czech sense of humor not escaping from autocriticism. Plus, the sculptures are moving - they raise and lower their penises and turn their hips like real people :)
See also other sculptures by Černý in Prague, e.g. St Wenceslas in Lucerna Palace, giant babies of Kampa/Zizkov Tower or rotating head of Franz Kafka!
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