Loren Coleman has a new post up on his CryptoZooNews blog about the same thing, and he brings up some other things that I hadn't thought of before - other animal characters in The Jungle Book would actually be cryptids as well!
"The new Disney version of The Jungle Book will be released to theaters April 15, 2016. Besides the cryptozoologically intriguing bear in India, giant snake, and black panther (obviously a melanistic leopard), there is a big surprise for cryptozoologists and hominologists in this new movie: Gigantopithecus."
So, this pretty much means that Louie, Kaa, Baloo, and Bagheera are all cryptids. Pretty cool!