We present a study of CB34V, a pre-main-sequence object that has incre
ased in brightness by similar to 3.7 mag in the red between 1951 Novem
ber (1951.9) and 1996 February (1996.1). Our data consist of intermedi
ate and high-resolution optical spectroscopy as well as optical and ne
ar-infrared photometry (BVRIJHK). We find that the color behavior of t
he CB34V brightness variation is peculiar, corresponding to a gray bri
ghtening. We demonstrate that CB34V is a pre-main-sequence object embe
dded in a small molecular cloud by 2.4 visual magnitudes. At optical w
avelengths CB34V has a G5 (III-IV) spectral type and is rapidly rotati
ng with a v sin i similar to 145+/-20 km s(-1). We estimate a current
bolometric luminosity of 7 <L(CB34V) <39 (D/kpc)(2) L.. If the optical
light is stellar in origin, the object's position on the HR diagram i
mplies a stellar mass of similar to 2 M. and an age of similar to 1 X
10(6) years. We consider two possible explanations for the observed br
ightening: (1) a high accretion episode (FU Orionis type) and (2) time
variable extinction due to motions of the non-uniform circumstellar e
nvironment. Although we favor the latter, CB34V seems difficult to cla
ssify into any of the known types of pre-main-sequence variability. (C
) 1997 American Astronomical Society.