E3 bear is a bear that is rumored to be the E3 version of Santa Claus

"Okay kids. Okay. The sooner you go to sleep the sooner tomorrow will come."

"Tell us about the E3 bear!"

"Yes, tell us the story!"

"Herp"

"Okay, now snuggle up kids. Every year the E3 bear travels the world collecting all the secrets that the goblins in Nintendo, Sony and all the other game devs make, and puts them in his sack. Then he brings them to E3 and sets up his booths and demos for the man-children to play, all in one night!"

"Wow"

"That's Cool"

"Derp"

"After E3 is over he collects all the rumours and shops into his sack and delivers them to the game goblins. They squish and mash all the rumours and squeeze out all the bitter tears. Then, they use the bitter tears to make all the games for the next year."

"Cool, games."

"Man, that's awesome"

"Herp"

"Now get to sleep kids or you'll be too tired to watch the the conferences. And any man-child not asleep on the night before E3. The E3 bear finds them and stuffs them into his sack.They are then fed to the hungry game-goblins!!"

In reality he's just a paint scratch that slightly resembles a bear that appeared on the french gaming website Gamekyo.com that had photos of boxes and crates near the E3 Expo Center that contain things such as hard hats, tools sets, doors and even Iwata and One (1) Reggie Fils-Aime