I say hybrid because it uses the footage from the original Japanese film entitled "Story Of The Abominable Snowman" and inter cuts it with footage of John Carradine as a scientist telling how the events all unfolded.
The original film is very hard to come by, but some day I would love to see it. The story revolves around the discovery of a Snowman and his son living in a very remote area. After word gets out that such a being is around a group of circus preple attempt to capture it and in the process kill it's son.
The beast goes on a rampage and destroys an entire village before finally being killed itself. This is not too bad of a film and the American footage with Carradine, Russell Thorson, Morris Ankrum and Robert Karnes is fitted in well by director Kenneth Crane. The original Japanese footage was shot of course by Ishiro Honda.
I recommend this for any fan of Japanese sci-fi, unless you can find the Japanese print somewhere.