But probably not the one you're picturing. At Evo2K11, during the Street Fighter X Tekken panel, producer Yoshinori Ono showed a pair of videos teasing new characters for the game, with the one above pretty much confirming the presence of Tekken's Kuma, an actual bear who somehow got involved in a fighting tournament. It sounds like something out of a Disney cartoon, except with ultraviolence. Of course, having Kuma around seems like it will boost the chances that figurative bear Zangief will show up, as he got his start wrestling the animals back in Mother Russia.
After the break, see the other teaser video, which is in all likelihood Street Fighter's female ninja Ibuki.