What I normally do is I create a spline object, then set up the first rib to be what it needs to be for the back of the object.  I them create a single section for the front end.  I separate these two parts, go to the back end section and create multiple cross sections, for each point in the model that needs a shape change.  I then set each frame to skin shape to shape and modify each section accordingly.  For the frontmost section on this particular model, it only has 2 points which are both located at 0,0 on the grid to give the sharp point.  To me it looks like the texture is being stretched and dog eared some how.