No! Bagul is a fictional Pagan myth written for the 2012 supernatural horror film Sinister starring Ethan Hawke, James Ransone, and Vincent D'Onofrio. The film is from the same producers of Insidious and Paranormal Activity.
Ethan Hawke plays the role of Ellison, a true crime novelist, who attempts to write a novel about a slain family by moving his own family into the home where the homicides occurred. His discoveries put his family in the path of Bagul, a stinky, old, clown-faced deity, who uses recorded images to travel between dimensions in order to consume the souls of human children.
Sources suggest that Bagul is a demon deity of the Asura, or power seeking deities in the Hindu belief.
Sinister hit stores on Blu-ray and DVD February 19, 2013.
Of interest, director Scott Derrickson recently confirmed that he is interested in seeing a sequel to Sinister hit theaters. He says Sinister 2 is currently in the theoretical stages, and that he wants to write the script, take part in the film's production, and possibly direct it.