This gets a point or two for being a Loch Ness Monster explanation I had not considered before
March 9, 2006—Throwing a bit of cold water onto the legend of Loch Ness, paleontologist and painter Neil Clark says the monster was perhaps a paddling pachyderm.
http://news.nationalgeographic.com/news/2006/03/0309_0603009_loch_ness.html