La chupacabra or disfigured coyote. Loch Ness monster or a log. Cryptozoology is interesting, but it can easily be classified as fiction. It is good to attract tourists and scare kids. Wouldn't it be fun though if one of the creatures actually gets discovered :)
My grandma, who is now 96 years old said that she saw a Dragon once, her definition of a Dragon was a big snake. That big bat sure sounds interesting, but as always it could be anything really.