What is Cryptozoology?
In short, it is the study of cryptids. Cryptids are animals which have not yet been discovered or classified, often crytpids are creatured that are reported to exist but for which no scientific proof of their existence has been found. You've likely heard of many of these animals without realizing they were cryptids: bigfoot, chupacabra, Nessie, and the jersey devil would all qualify as cryptids.
The Yowie is a more affectionate term for an unidentified hominid that resides in Australia, it is quite similar to the “Bigfoot” or the “Yeti”. There is a research center called “The Australian Yowie research Center”, and its only purpose is to study and research facts about the Australian Yowie.