''Right now it looks like a stack of stone,'' said Alan Walker, manager of the Chamber of Commerce. ''Otherwise, the rest of it looks kind of nice.''

Long before construction stopped in September 1982, Bedford's monument had earned a Golden Fleece award from Senator William Proxmire, Democrat of Wisconsin, for waste in government. Now, the Chamber of Commerce is hoping that a limestone industry training program will provide money to train workers who could continue construction. If that happens, the project, which the Federal Government had expected to take three years, might be done in another decade or so, Mr. Walker said.

''What's wrong with that?'' he asked. ''I think the thing will draw. I think people will come from thousands of miles around if they can see a pyramid being built. I think it will be a very successful tourist attraction for southern Indiana. I mean big. But only while they're building something. And right now we're not building anything.''

Already, said Mr. Walker, tourism has picked up for a town that saw its best times when the limestone industry was thriving in the 1920's and 1930's. He said about 2,500 people from 32 states paid $1 each to tour the museum and look at the stone last summer.

''I'm not going to promise anyone a pyramid at any time,'' he said. ''I don't have the money to build one. And as far as I know, the Federal Government doesn't call people up to give them money. But we've got a good base started, and if somebody's got the money, we'll finish it.''