Jeff Peckman of Denver, Colorado, has been trying to get his city to start a panel to prepare the city to deal with "issues related to the presence of extraterrestrial beings on Earth." Peckman also claims to have video of a four-foot tall alien taken with an infrared camera. The video was shot by someone named Stan Romanek.
The video has been examined by someone with extensive experience in special effects, who says that if it's a fake, it's a very expensive fake. The image is not computer generated or the result of post-production work, and if it's an animatronic or a costume, it's an extremely sophisticated one.
Peckman is showing the video to members of the press today, but the video will not be available to the public for at least another month, if not longer. The footage is being used in a documentary, so they don't want to let the public see the footage until after the documentary is completed and released.
The SF Examiner has a page full of links to their own stories about Peckman and the video, as well as links to other sites about the story. [UPDATE: The story is now old enough that the Examiner seems to have taken down the links.]