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The Bigfoot-Giganto Theory
The Bigfoot-Giganto Theory

The Bigfoot-Giganto hypothesis suggests that bigfoots are surving relatives of the genus Gigantopithecus. Gigantopithecus (the Latin word for "Giant Ape") was a giant cousin of the orangutan. It was presumed to be extinct.

86 Percent of Earth's Species Still Unknown?
86 Percent of Earth's Species Still Unknown?

That means scientists have cataloged less than 15 percent of species now alive—and current extinction rates mean many unknown organisms will wink out of existence before they can be recorded.

Why bigfoot cannot be Gigantopithecus
http://retrieverman.net/2012/01/18/why-bigfoot-cannot-be-gigantopithecus/

The bulk of the literature on bigfoot or sasquatch says that bigfoot is a gigantic, bipedal ape that lives throughout North America and likely derives from Gigantopithecus blackii, an extinct ape that once lived in southern China and Southeast Asia. This extinct ape supposedly crossed the Bering Land Bridge during the last Ice Age and then came to inhabit much of North America.

http://en.wikipedia.org/wiki/Gigantopithecus