According to The Times, this unusual animal was captured in the Sichuan province in remote central China. Nicknamed "the oriental yeti," the unidentified animal is on its way to Beijing for DNA tests. "There are local legends of a bear that used to be a man and some people think that's what we caught," one of the hunters said. I dunno… Looks to me like a hairless bear. Besides, everyone knows that real Yetis look like this.
"'Oriental yeti' that looks like a bear without fur shipped for tests" (Thanks, Xeni!)UPDATE: Naturally, Loren Coleman has taken a hard look at this story over at Cryptomundo.