Arrows work. I just beat it with a shortbow and a bunch of wooden arrows. If your screen is focused on the part of it that's sticking out horizontally you might not see his lifebar so it won't look like he's losing life.
SiouxperVillian posted... Theres a ladder that leads you above and allows you to come around so that your on the inside of that cave the thing is clinging to. Afterthat, I just poked it with my big sword and it died..
Like most enemies in this game, its ass is its weakness.