"Taxpayers - this is where your money goes!" said one post, while another claimed the Place Vendome had been "disfigured" and Paris "humiliated".
Others have tweeted:
It is one of McCarthy's many Christmas-themed works, including a controversial "Santa Claus" intended for Rotterdam in 2001.
It was never placed next to a concert hall as planned because of arguments about another suggestive Christmas tree that earned the statue the nickname "butt plug gnome".
He also created a giant inflatable installation depicting excrement in Hong Kong last year and in 2011, an exhibition of his work in London included a pair of animatronic George W Bush sculptures having sex with pigs.