We had a large (6') tiki carved for us out of an American Elm that we had to remove. See pictures here. I'd like to protect the wood from splitting and water (I've already coated the base with copper naphthenate).

Any suggestions for the right oil to use? Tung / teak / Danish / rosewood / etc? Or something else entirely? This sculpture will be outside (in the shade) year round in the SF Bay Area. I'm more concerned with longevity and protecting the wood than with the hue of the oil / stain.