Context: To follow the early evolution of stars we need to understand how young stars accrete and eject mass. It is generally assumed that the FU Orionis phenomenon is related to the variations in the disk accretion, but many questions remain still open, in particular because of the rarity of FU Ori type stars. Aims: We explore here the characteristics of the outburst and of the environment of one new object, discovered recently in the in the active star formation region containing RNO127, within the Cygnus OB7 dark cloud complex. Methods: We present an extensive optical and near-infrared study of a new candidate of FU Orionis object, including its direct imaging, spectroscopy and scanning Fabry-Perot interferometry. Results: The source, associated with the variable reflection nebula, underwent prodigious outburst. The Braid nebula, which appeared in 2000, as is indicated by its name, consists of two intertwined features, illuminated by the outburst. Subsequent NIR observations revealed the bright source, which was not visible on 2MASS images, and its estimated brightening was more than 4 magnitudes. Optical and infrared spectral data show features, which are necessary for the system to be referred to as a FUor object. The bipolar optical flow directed by the axis of nebula also was found. Various estimates give the November/December 1999 as the most probable date for the eruption.
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