I've actually wondered the same thing. Like maybe the lost Entwives or something? As for how the Hobbits could not know about them, it also says that it is up in the North Farthing, and I'm pretty sure that the North Farthing is not nearly as populated as the other three. Here is the passage:
Quote:
"All right," said Sam, laughing with the rest. "But how about these Tree-men, these giants, as you might call them? They do say that one bigger than a tree was seen up away beyond the North Moors not long back."
"Who's they?"
"My cousin Hal for one. He works for Mr. Boffin at Overhill and goes up to the Northfarthing for the hunting. He saw one."
"Says he did, perhaps. Your Hal's always saying he's seen things; and maybe he sees things that ain't there."
"But this one was as big as an elm tree, and walking - seven yards to a stride, if it was an inch."
"Then I bet it wasn't an inch. What he saw was an elm tree, as like as not."
"But this one was walking, I tell you; and there ain't no elm tree on the North Moors."
"Then Hal can't have seen one," said Ted.
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I'm pretty sure that Ents had a stride of about seven yards which would match. Also Merry and Pippin reported that different Ents looked like different trees, which would account for an Elm tree on the North Moors. My guess is that they are Entwives.