According to Herodotus's Histories, yes and no. This was done by Rameses II, who Herodotus called Sesostris. He didn't build a statue of a vagina, though; he built pillars everywhere he conquered, and if whoever he had just defeated were particularly weak and didn't offer any real resistance, he drew a vulva on them.

Here's the relevant excerpt of the Histories:

http://www.perseus.tufts.edu/hopper/text?doc=Hdt.+2.102.&fromdoc=Perseus%3Atext%3A1999.01.0126

This is my first answer in /r/askhistorians and I am not at all a qualified historian, much less of ancient Egypt, but there doesn't appear to be anything more to this, so I'll submit this answer. It's my understanding that the Histories are pretty reliable, at least for a text from millenia ago, but if not please correct me. Or if I did anything else wrong.