The idea of the statue is inspired by the iconic poses of the Dark Magician, where he is in this "ready for action" stance with the Dark Magical Circle in the background.
He has his left hand outstretched and holds the Magician's Rod in his right hand, ready to cast his signature spell: Dark Magic Attack. The smoke at the base adds emphasis to the fact that the Dark Magician has recently been summoned to the battlefield.
Given that the origin story of the Dark Magician dates back to ancient Egyptian times, the base reflects this aspect of the Dark Magician, from the sandy and rocky environment at the top of the base to the hieroglyphic patterns on the side.