The Chupracabra runs along the same lines as bigfoot, the loch ness monster, the yeti, ect, ect,.......never "proven" to exsist, yet someone always seems to have some 'new' evidence.......
The show you saw was probably an attempt to explain the creatures existance on some logically explainable phenomena (wolf/coyote hybrid....probably with mange).
Here is some more info:
http://www.skepdic.com/chupa.html
Personally, I'm getting a little sick and tired of these shows.....they 'blur the line' between science and myth, and are more entertainment than education. Used to be NG, the History channel, and the discovery channel were all I would watch.....now all the history channel can produce are shows dealing with the apocolypse, what might happen to NYC in the event of a sunami, end of the world crap, the writings of Nostrodamus, ect,
Rather watch figure skating on the Olympics!