In the local dialect, Jamtish, it has been named Storgläffs'n "the great yelper" by a locally known poet, this is however not a popularly used name. In the English language Storsjöodjuret is usually called Storsie, similarly to Nessie, though the names Storsjö Monster (also spelled Storsjoe where the character ö is unavailable) and the literal translation The Great Lake Monster are used. Its latin name is Hydogiganta Monstruidae Jemtlandicum roughly meaning "The Gigantic Jamtish Water Monster". It has also been called Storsjöormen "The Great Lake Serpent.
"A long, long time ago two trolls, Jata and Kata, stood on the shores of the Great Lake brewing a concoction in their cauldrons. They brewed and mixed and added to the liquid for days and weeks and years. They knew not what would result from their brew but they wondered about it a great deal. One evening there was heard a strange sound from one of their cauldrons. There was a wailing, a groaning and a crying, then suddenly came a loud bang. A strange animal with a black serpentine body and a cat-like head jumped out of the cauldron and disappeared into the lake. The monster enjoyed living in the lake, grew unbelievably larger and awakened terror among the people whenever it appeared. Finally, it extended all the way round the island of Frösön, and could even bite its own tail. Ketil Runske bound the mighty monster with a strong spell which was carved on a stone and raised on the island of Frösön. The serpent was pictured on the stone. Thus was the spell to be tied till the day someone came who could read and understand the inscription on the stone.
Another legend was written down by the prolocutor Andreas Plantin in an inquiry in 1685.
"It is said that beneath this [rune]stone lies a dreadfully large head of a serpent and that the body stretches over Storsjön to Knytta by and Hille Sand where the tail is buried. The serpent was called a rå and therefore shall this stone be risen. Since no one peacefully could cross [Storsjön], the ferryman and his wife states, along with many others, that in the last turbulent time this stone was tore down and broken in two. As long as this stone laid on the ground many strange things occurred in the water, until the stone was risen and assembled anew.
The runestone both texts refer to is the Frösö Runestone, the most northerly runestone in Europe. However while a large serpent is indeed pictured on the stone there is no reference about it nor "Ketil Runske" in the text itself, which instead tells about Austmaðr, Guðfastr's son's christening of Jämtland. Though it has indeed been broken in two pieces.
In August 2008 a group of filmers claimed to have capured storsjöodjuret on film. The cameras showed red so it it was something warm that was filmed.