Berlin artist Lisa Büscher specially crafted the life-size figurine for seven months.
The Swift figurine is dressed in a blue sequinned one-piece, similar to an outfit the Cruel Summer singer wore to the 2019 iHeartRadio Music Awards.
Fans were quick to comment on the appearance of the Swift figurine.
"They look so off I'm crying," one fan wrote on X.
Another joked, "When ur mum says u have Ed Sheeran and Taylor Swift at home."
"Omg they did her so dirty,” one person wrote.
“Achieving the perfect likeness is particularly challenging when it comes to a wrinkle-free, flawless beauty,” said artist Lisa in a statement.
“A particular challenge was designing her hands in the typical heart pose. Coordinating so that the hands meet well at the front was not easy.
“The same goes for the painting of the head. After all, a wax figure shouldn't look 'waxy.'”
Dr Susanne Faerber, the Managing Director of the museum, said in a press release: "With the wax figure of Taylor Swift, we are welcoming an absolute superstar to the Panoptikum.
"August 13 is therefore a truly lucky day for our wax museum—although the number 13 is also of great importance to Taylor Swift herself and to her countless Swifties. We are delighted to be able to offer many people a special fan experience with their star."