Here is a slow motion and enhanced version of the original video which can be found here:
http://www.youtube.com/watch?v=Ss_Gm_N5C48
"We went camping in Provo Canyon (near Squaw Peak and Little Rock Canyon Overlook) and saw some deer up on a hill that we wanted to get a closer look at. On our way up, we thought we saw a bear, until the monster stood up and looked right at us. We ran straight to the car after that, leaving our tent and everything behind. It's probably all still up there"
http://www.youtube.com/watch?v=Ss_Gm_N5C48
"We went camping in Provo Canyon (near Squaw Peak and Little Rock Canyon Overlook) and saw some deer up on a hill that we wanted to get a closer look at. On our way up, we thought we saw a bear, until the monster stood up and looked right at us. We ran straight to the car after that, leaving our tent and everything behind. It's probably all still up there"