It isn't much different from the other one, but it proves that whatever it is isn't Photoshopped.
In addition to this, three fakes popped up around the internet:
Sources say that these three are completely Photoshopped or fake, and were definitely created to propel the Montauk monster story.
There is also a YouTube video of an interview with the three women that snapped the two legit pictures:
In this, they say they think the monster is from Plum Island, an inconspicuously named, government-owned "animal disease testing facility." Even I'm starting to think that this is legit.
I guess this is the sort of thing that you need to judge for yourself, you know?
Television personality Jeff Corwin thinks it's a raccoon. I'll bet he's in on it.