Ok, this video is catching fire on facebook and some people are saying it is a real bigfoot. It seem pretty obvious that is a cheap bigfoot suit but I did some poking around to see what I could find. Also at the end of the video the guys are laughing and having a fun time and I don't think this is how a person would act who just seen a real bigfoot.
The bigfoot in the above video looks a lot like the same suit used by famous youtuber BUTCHYKID - click and watch.

I also checked out Tim Wells facebook page and it appears a still frame was released towards the end of September of his bigfoot video. No other post about it that I could find until the youtube explosion of the video today.

Here is that still frame and notice what Tim says under it