The monumental work, which has yet to be built, will be 10 metres (34 feet) high, and be made of bronze, stainless steel and aluminium.
The sculpture will represent a huge hand holding out a multicoloured bouquet of tulips, the contemporary artist said at the US embassy in Paris, a statement said (see an illustration below).
Once it is completed in 2017, it will be set up in front of the City of Paris Museum of Modern Art and the Palais de Tokyo building.
The sculpture will cost some €3 million ($3.2 million) to make. Financing will come from private donors in the United States and France.