Apparently the Yeti does exist, it just doesn't look like we thought it did.

French zoologists have discovered a new species of crustacean, Kiwa hirsuta in the icy depths off of Easter Island. An eyeless lobster-like creature, it's appendages are covered in a fine hair-like matter. The common name, Galathee yeti, was assigned by the French scientists. (Who are obligated to assign a french word for every new discovery, lest their language become obsolete) The scientific moniker, Kiwa hirsuta loosely translates to "hairy goddess" The creature is so unlike any family of crustaceans, that it was assigned it's own family: Kiwaida, derived from Kiwa, the goddess of crustaceans in Polynesian mythology. Divers found the animal in waters 7,540 feet deep. The silky hairs were populated with species of bacterium common to deep-sea thermal vents. Unfortunately, when brought up to the surface, the creature died due to the massive change in atmospheric pressure. One step forward, two steps back-jackasses.