Yes technically his epithet is Heavenly Yaksha but that's really long and makes the title look weird. Who the heck even calls him that ever?
So this one is a bit different and perhaps the more perceptive readers will pick up on it without me mentioning it. Basically though, this one was a bit of a rush job. I can't fully explain it because it would spoil future choices but basically we had something different planned for Dressrosa and changed our minds very last minute. As a result we get this sequence which does have some cut corners to get it out 'on time'. I do hope it doesn't detract from the overall project and I'll explain things more once the piece originally planned here goes up.
Anyway, Doflamingo! The story here involves a bit of rewriting what happens. Luffy fights through the whole tournament and is then tricked into a meeting at the secret harbor for the prize where this then occurs.
The final design, while simple, I think is pretty effective. Its perhaps not as cleverly thematic as some others but I think in return it is more 'simply hot' which can also be good.
From this point in the manga the arcs begin to get very long, and have way more factions, so expect to see multiple for the few islands remaining.