We have discovered an object in the field of the Galactic open cluster [1]36 which exhibits a nebulous tail-like structure and a high velocity outflow. We first observed the jet morphology in optical images taken at the Michigan-Dartmouth-MIT (MDM) Observatory at Kitt Peak. This source, located at 05h36min05.9s, 34deg06'12.1" (J2000), is found to be coincident with IRAS 05327+3404. CO(1-0) observations (Wouterloot & Brand 1989) showed this object to be a strong emission-line source. We performed CO(2-1) observations at the James-Clerk-Maxwell Telescope at Mauna Kea which suggest that the outflow is bipolar in nature. Optical spectroscopy obtained at the La Palma Isaac-Newton 2.5m Telescope shows strong emission lines, reminiscent of Herbig-Haro emission and confirming the outflow. The object is probably not associated with [1]36, and may be a far-flung member of the nearby region of star formation, S235. The optical spectra are quite unusual. We conclude that the spectra represent two views of the same jet structure from different viewing angles, one the result of a reflection off the nebulous tail. The IRAS fluxes, optical morphology, and aspects of the optical spectra are similar to the FU Orionis system L1551 IRS5, and may indicate that this object is also an FU Orionis star.