As previously eluded to there are some now generally accepted animals, some that you can most likely find at your local zoo's that were in the last century believed to be misidentifications of known animals, folklore, and or hoaxes. 

Let's start with the 'Giant Panda' bear unknown to 'western' civilization until 1869 when French missionaries were brought a dead specimen from its home in China.  Still it wasn't until 67 years later in 1937 when the first Giant Panda was hunted and captured alive by western explorers.  Today the Giant Panda remains an endangered species with approximately only 1000 living in the wilds of China.  The Duck Billed Platypus had one of its first dead specimen studied by scientist in 1797, pronounced a fake and later stamped an official animal in 1802.  Most of the previous examples have species that were rumored to be in existence by the locals of each 'legend' sometimes for years, decades or centuries.  The Coelacanth had universally believed to be extinct for approximately 80 million years before a five foot (1.5meters) specimen turned up in a fishing net in 1938.  It's interesting to note that the next specimen was not caught until 1952.  In 1862 some of the first stories of the Mountain Gorilla reached westerners.  It wasn't until 1902 when an army officer killed two specimens for study in the west and the purported folklore became fact.  This is an animal weighing in over 300 pounds that eluded capture for forty years from when western civilization first had reports.  The population is currently believed to be less than 700 in the wild and a history of unsuccessful attempts of habitating in zoos.  For further details on the above information please feel free to visit www.pibburns.com/cryptozo.htm & www.Cryptozoology.com or simply follow a Google search with your key word of choice.