This is the video clip that was shown on the recent episode of Syfy's Fact or Faked show. I hadn't heard of this clip before the show and was quite intrigued.
Now, here's what's odd. It took countless re-watches for me to be able to actually understand what I was looking at. For a good dozen times all I saw was 'moving stick figure'. Probably on the 20th or so so time I watched it it dawned on me that it was a gray alien, or made to look like one. Watch it again and then focus on the creature as it nears the time stamp. You can make out a head and black eyes.
Now, does that mean I believe the clip is 'real'. No it doesn't. I lean toward the video being a hoax, however I will admit that what the clip has going for it is that the gray alien isn't apparent. If someone was going to hoax something like this you would think they would make it so that it would be easily identified as a gray alien and not a 'moving stick figure'.
When watching the clip, make sure to hit the full screen button and then get as close to the screen as possible. Watch it a good number of times and leave me a comment on what you think it is.