New Year's Eve, two cousins observe creature watching them

On New Year's Eve evening the witness and a companion were playing near a wooded area behind a relative's house during a fireworks gathering. They saw a very large furry figure with red eyes standing partly behind a tree watching them, then saw it walking away on two legs with an ape-like limping gait. Both ran back to tell their parents, then returned minutes later with a flashlight but the figure was gone.