The bear joined the movie's director, Elizabeth Banks, while she presented at the Academy Awards on Sunday evening.
The comedy thriller is based on a true story from 1985 of a bear that consumed multiple bags of cocaine it had found after a smuggler ditched them while leaping out of a plane.
Social media was quickly alight with viewers guessing who could have donned the suit, and now Kimmel has teased the answer on Jimmy Kimmel Live.
“It was a celebrity, that was correct… and that celebrity was DJ Jazzy Jeff!” he joked.
Jazzy Jeff is a Grammy Award-winning DJ, known for playing Jazz on The Fresh Prince of Bel Air. He played the best friend of Will Smith's character on the show.
Kimmel sarcastically doubled down on his claim, adding: "And that’s not a lie. That’s absolutely true and I’d like everyone to report that."
During the Oscars ceremony, Kimmel has made reference to the slapping incident that shocked viewers last year.
"If anyone in this theatre commits an act of violence at any point during the show you will be awarded the Oscar for Best Actor and permitted to give a 19-minute-long speech," he quipped.
"The Academy has a crisis team in place and if anything unpredictable or violent happens during the ceremony, just do what you did last year. Nothing."
Elsewhere, Everything Everywhere All At Once dominated Oscars night.
It took home seven awards in total, including three acting awards, one for Ke Huy Quan (Actor in a Supporting Role), Jamie Lee Curtis (Actress in a Supporting Role) and Michelle Yeoh (Actress in a Leading Role), as well as Best Picture.
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