Got Octavia VSR with 3000 miles on clock. Had warning light saying oil sensor fault, on inspection of dip stick had deposit on it. Took back to dealer they told me this is normal for new car. They changed oil and still what looks like the oil is emulsifying. Any ideas ?

Welcome to the forum.

 

Whoever told you that at the dealership is a liar.  Was it a Technician or someone else.   

 

I would call Skoda Assist and have that car collected and a courtesy car delivered, or just get it back to the Dealership and get a refund.

'Normal for new car' sounds like typical dealership BS, though I don't speak from experience (and doubt I ever will).

Are you doing a lot of very short journeys, with breaks between each? If not, I think there may be a fault with the crankcase breather system, if not something worse.

Monitor coolant level in the expansion tank (mark it when cold and compare regularly when also cold).

I was wondering about the PCV, or possibly the head gasket. Do you have either coolant loss or a rising oil level in the sump?

Reject the car asap, something very seriously wrong with the engine. Keep the pictures as evidence. As suggested, call Skoda assist.

Photo looks like coolant is getting into the oil.

 

There is something seriously wrong with that vehicle if the two can mix, as others have suggested put selling dealer on notice to reject ASAP

That is a definite indication that water is entering the oil system somehow. Normally given as evidence of head gasket failure.

 

Check you coolant for emulsion as well, coolant should be absolutely clear (But pink/orange).

 

Take to another dealer if you can.