From NHPO:

In 1928, MGM's art director Cedric Gibbons, one of the original Academy Award members, supervised the design of the award trophy by printing the design on a scroll. In need of a model for his statuette Gibbons was introduced by his future wife Dolores del Río to Mexican film director Emilio "El Indio" Fernández. Reluctant at first, Fernández was finally convinced to pose nude to create what today is known as the "Oscar".

Homeboy looks like the Danny Trejo de ayer.

Source: (NHPO National)