We can also solve this question using option elimination. The ant is rotating $72^\circ$ anticlockwise from point $P$, which means that Option A and Option B get eliminated. Now, only Option C and Option D remain as possible answers. But Option D gets eliminated because we are repeating the two given steps only for five times (as per the question). Option D shows more than five sides, whereas Option C has exactly five sides. Hence, the correct answer is: \[ \boxed{\text{Option C}} \]