No, that toad is not sprouting wings. You're looking at a rare, perhaps the only, photograph of a cane toad eating a bat.
The photo was taken in the Cerros de Amotape National Park in Peru by park ranger Yufani Olaya, and posted on Phil Torres' blog.
Phil Torres (@phil_torres) of Peru Nature reported that Olaya said that the bat was flying a bit too close to the ground while trying to feed on insects when it accidentally ran into the open mouth of a cane toad. Cane toads are opportunistic feeders and have been reported feeding on practically anything it can swallow.
But did the cane toad manage to eat this bat? Olaya later reported that the toad couldn't get the remaining wings into its mouth, and spat out the bat. At first, he thought the bat - ahem, croacked - but the bat slowly recovered and managed to fly away.