I've posted a pic of the Egg Stone here http://www.themodernantiquarian.com/post/37012
It is a natural feature made from a substance called 'Tor burr', which is harder than the surrounding sandstone due to a concentration of iron deposits. The softer rock has eroded away around it, though the stone is still soft enough to be easily carved.
There is another burr in the Abbey ruins that has a socket for a cross cut in the top.
The Egg stone on the Tor has fertility traditions (possibly fairly recent) , perhaps due to its egg shape.