Although the source of the picture is a Chinese forum and the picture quality is quite low, the shroud on the pictured Geforce GTX 1080 looks similar to the one seen earlier and it has a somewhat aggressive design, so it might be the real deal. Unfortunately, the source only has a picture and does not reveal any more details so be sure to take this one with a grain of salt.
In case you missed some earlier rumors, the Geforce GTX 1080, as the label on the shroud suggests, should be based on the new 16nm Pascal GP104-200 GPU and will be one of the three graphics cards that Nvidia could announce and launch in June, most likely sometime around Computex 2016 show in Taipei, which kicks off on May 31st.
Earlier rumors suggested that GP104 GPU packs somewhere around 2560 CUDA cores and the high-end GTX 1080 could end up with up to 8GB of GDDR5 memory with a 256-bit memory interface. It is still not clear if the GDDR5X memory will be available for this first batch of Nvidia Pascal graphics cards but that should happen eventually.
Hopefully we will see more of these leaks and possibly some precise specifications as we draw closer to the launch date.