02-15-2014, 09:18 PM
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When I saw the OP's pic, my first thought was "Why did someone cut that poor horse's frog like that and so deep?" My next thought was, "Why isn't it actually bleeding?"
I don't think that is ripped off -- it's too clean and sharp. It really looks like it was cut purposefully and I'd be mighty ticked off if that is indeed the case.
I would not be inclined to soak it. If it's been cut, it needs to heal and toughen up. Soaking it will soften it. I would keep it clean and apply antibiotic cream on it. Probably/possibly put a diaper on it with duct tape. Every day, at least once - wash and rediaper. If no improvement in the first 36 hours, I would call the vet and farrier.