Answer:
"Round the decay/Of that colossal wreck, boundless and bare"
Step-by-step explanation:
Percy Bysshe Shelley's poem "Ozymandias" describes a traveler's encounter with an ancient statue of Ozymandias and how dilapidated it had become. The poem is suggestive of the destructive power of nature and how man's works seemed mere obstacles for the stronger power of nature.
In the words of the poet through the traveler, we can know that the once-mighty statue of Ozymandias had now become "a shattered visage [with] wrinkled lip." Though proudly displayed with the words "My name is Ozymandias, King of Kings; Look on my Works, ye Mighty, and despair!", the only thing that remained is a "decay[ing] colossal wreck".
The words "decay" and "colossal wreck" best indicate the state of the statue.
Thus, the correct answer is the first option.