V838 Mon is marking one of the most mysterious stellar outbursts on record. The spectral energy distribution of the progenitor resembles an under-luminous F main sequence star (at V=15.6 mag), that erupted into a cool supergiant following a complex and multi-maxima lightcurve (peaking at V=6.7 mag). The outburst spectrum show BaII, LiI and lines of several s-elements, with wide P-Cyg profiles and a moderate and retracing emission in the Balmer lines. A light-echo discovered expanding around the object helped to constrain the distance (d=790 +/- 30 pc), providing M_V=+4.45 in quiescence and M_V=-4.35 at optical maximum (somewhat dependent on the still uncertain EB-V=0.5 reddening). The general outburst trend is toward lower temperatures and larger luminosities, and continuing so at the time of writing. The object properties conflict with a classification within already existing categories: the progenitor was not on a post-AGB track and thus the similarities with the born-again AGB stars FG Sge, V605 Aql and Sakurai's object are limited to the cool giant spectrum at maximum; the cool spectrum, the moderate wind velocity (500 km s-1 and progressively reducing) and the monotonic decreasing of the low ionization condition argues against a classical nova scenario. The closest similarity is with a star that erupted into an M-type supergiant discovered in M 31 by Rich et al. (cite{Rich1989}), that became however much brighter by peaking at M_V=-9.95, and with V4332 Sgr that too erupted into an M-type giant (Martini et al. cite{Martini1999}) and that attained a lower luminosity, closer to that of V838 Mon. M 31-RedVar, V4332 Sgr and V838 Mon could be all manifestations of a new class of astronomical objects.