The actual name of it for the English version of the game (which I own) is Gigginox. It was also capable of hanging itself from the ceiling with its tail. Well that and its whole body. The whole underside of it is fleshy and red, with tons of lines. It lives in pitch black caves, so more often than not you could only see the purple stripes on its head and tail, so knowing which end you were on was nearly impossible.
It's Monster Hunter 3: Tri on the Wii (exclusively), I don't know where you can find it still. But it is a fun game, and even more fun to play online. There's lots of customization, and tons of weapons and armor types. I think there's also watered down versions of it for the PSP, but I think they are Japan only.