Ubuntu 12.04 will be known as the "Precise Pangolin"

So, what will be our mascot for 12.04 LTS?

Continuing with the alphabetic Series : Ubuntu 11.04 (Natty Narwhal), Ubuntu 11.10(Oneiric Ocelot)

& now with 'P' letter.

Mark Shuttleworth , Ubuntu Founder, has announced that the codename for Ubuntu 12.04 will be 'Precise Pangolin'. 

Mark Writes

Let’s ask the question differently – what are we trying to convey? 12.04 is an LTS.So we want it to be tough and long-lasting, reliable, solid as a rock and well defended. It’s also going to be the face of Ubuntu for large deployments for a long time, so we want it to have no loose ends, we want it to be coherent, neat.

We’ve told the story of the cloud in previous releases, and that comes to fruition in 12.04 with the first LTS that supports both the cloud guest, and cloud infrastructure, across ARM and x86 architectures. We’ve also told the story of Unity in previous releases, and that comes to fruition in a fast, lean interface that works well across clients both thick and thin. 12.04 is going to be a lot more than all that, but for the full reveal, you’ll need to wait till UDS! Nevertheless, we can take reliability, precision, and polish as a given.
Balancing all of those options, I think we have just the right mix in our designated mascot for 12.04 LTS. Ladies and gentlemen, I give you the Precise Pangolin.
Now, I’ve recently spent a few hours tracking a pangolin through the Kalahari. I can vouch for their precision – there wasn’t an ant hill in the valley that he missed. Their scales are a wonder of detail and quite the fashion statement. I can also vouch for their toughness; pangolin’s regularly survive encounters with lions. All in all, a perfect fit. There’s no sassier character, and no more cheerful digger, anywhere in those desert plains. If you want a plucky partner, the pangolin’s your match. Let’s pack light for a wonderful adventure together.

Reference: http://www.markshuttleworth.com/archives/784