It appears the Ubisoft is setting the next in the Far Cry series up in the Mountains of Madness (aka the Himalayas) so expect Yetis.
According to one source, " the title is set to be shown off in some form during Ubisoft's annual press conference at E3 in June".
Superannuation also mentioned the setting in a Tweet
Far Cry 4 sounds super boring from the rumors. It's the third game more or less transposed to the Himalayas or adjacent locale + monsters(?)Eurogamer
's take is less acerbic, "Far Cry 4's gameplay will remain similar to that in Far Cry 3 - presumably including a large focus on hunting local fauna. The world's map will be structured in a familiar fashion too, a separate source said, with outposts for you to liberate."
Apparently the game has rideable elephants - although this sounds as if someone has confused the Himalayas with the Alps.