The Yeti is a monster who worked at Monsters, Inc. until he got banished (for an unknown reason) to the Himalayas. Despite being banished, he likes living in the human world.
When Mike and Sulley got banished to the wasteland in the Himalayas, the Yeti greets them and makes them feel comfortable in his cave. He also shows himself to be a comedian, such as when he mentions about his friend Bigfoot, who has called himself "King Itchy." When he mentions something about a local village, Sulley, still wanting to help the human child he has accidentally brought into the Monster World, suddenly demands the Yeti to tell if there are any kids in that village so that he will be able to sneak back into the Monster World. However, the Yeti warns Sulley never to go out in a blizzard, but Sulley does so anyway.
The Yeti is last seen calling to Sulley that he has made more snow cones (after the lemon ones had been used up as a tossing weapon by Mike), but Sulley just ignores him.
He appears during the end credits of Cars as a snowplow when Mack is at the drive-in movie theater.
Notes
It is very possible that the Yeti may be featured in the prequel to Monsters, Inc., Monsters University, as John Ratzenberger (his voice actor) has appeared in all twelve Pixar movies to date and has always reprised the same character. While Ratzenberger has been confirmed to return, his character is said to be "a Monsters, Inc. employee", which may or may not be the Yeti. we won't find out until the release.