Yes that is a chicken embryo. This one was killed probably for this photo but had it not been killed and had it been kept warm between 99 and 102 degrees Fahrenheit it would have grown into a baby chick in less then 21 days.
For those who don't know. Chicken eggs purchased at stores are eggs not embryos. They lack the small embryonic tissue highlighted in af_newbies photo.
I am talking about fertilized chicken eggs. Focus, doctor, focus. Is this a chicken, doctor?
It was the very beginning of a new chicken life. It is a dead chicken.