This is the memorial for I Gusti Ngurah Rai. A really famous soldier that fought against the Dutch during the fight for independence. The airport in Bali, lots of roads, and a university are all named after him. His face also appears on the 50,000 rupiah note.
He and 96 other soldiers fought the Dutch here at Margarana. They were completely outgunned and outmanned. But instead of surrender, Ngurah Rai ordered a puputan which means ritual suicide in battle, something similar to what the Japanese Kamikaze fighters did in World War II.