The "wild man of the woods" is a familiar figure in mythology and religion. References to such a figure include the Russian Leshiy, Enkidu of the Gilgamesh Epic, the satyrs in Greek mythology, and Grendel in the Anglo-Saxon epic Beowulf.

 Contemporary reports of the Abominable Snowman, therefore, are disregarded by some as little more than modern variations on old mythological themes, and some sightings have indeed proved to be hoaxes.

Anthropologists believe that like earlier civilizations, the creation of Bigfoot was used to warn members of the dangers of violating taboos, which serve other, more complex functions within society.

Other interpret the Abominable Snowman sightings as a reflection of the modern fascination with the wild and the popular sense that a few pockets of wilderness remain in a world dominated by civilization

Some cryptofans argue that the widespread presence of these creatures in folklore indicates that they have actually existed since ancient times and may still inhabit remote regions of the earth.