Here's the article about the faked footage.
The Snow Walker Footage
AVI clip (2.97MB)
Perhaps the most elaborate hoax footage ever produced, it was created by an independent production company developing a TV program called "Paranormal Borderline" for UPN (Paramount).
The footage was greatly debated after its release, but was eventually debunked by the BFRO's Dr. Jeff Meldrum.
There are some interesting aspects to this footage. It was too expensive to create a convincing, intricate costume, so the hoaxers compensated in two ways, both of which provided clues that eventually unravelled the hoax.
The shots are brief, blurry, and distant, thus precluding any detailed images of the figure and eliminating the need for an intricate costume. The lack of image quality is cleverly distracted by the context of the footage.
The hoaxers went to extraordinary lengths to make the footage appear to be part of a vacation video of a European couple mountaineering in the Himalayas. In reality it was staged somewhere near Mammoth Mountain, California.
These compensations led to some obvious questions. With the figure crossing an open snow field likely in view for at least a minute, even the most amateur videographer would have shot more tape, and likely would have zoomed in all the way for the better part of the tape. Why then were there only a few seconds of shakey wide-angle shots when the figure was at it closest point?
The context of the footage raised immediate questions about the identify of the European couple. UPN would only say that an American man provided the footage, that he wanted people to see it, but that he wouldn't speak to any investigators or answer any questions about the European couple. This was suspiciously similar to the "alien autopsy" video scenario, where the shadowy source of the footage refused to come forward to authenticate it in any way. In the case of the Snow Walker footage, the producers of Paranormal Borderline acted suspiciously by steering the investigation away from the source.
Dr. Meldrum, who at first tentatively suggested the footage might be authentic, became increasingly suspicious of the dodgey behavior of the show's producers as he tried to investigate the matter further. He pursued it with UPN for over a year. Eventually, after Paranormal Borderline was cancelled, the producers finally outright admitted the hoax, and explained how it was done.
In spite of all this, they did manage to eek out one more profitable use out of the footage when it was used in the Fox TV special "World's Greatest Hoaxes".
Here's a link to the site I got the story from.
Snow Walker Footage Is Fake