An AlAs two-dimensional electron system patterned with an anti-dot lattice exhibits a giant piezoresistance (GPR) effect, with a sign opposite to the piezoresistance observed in the unpatterned region. We trace the origin of this anomalous GPR to the non-uniform strain in the anti-dot lattice and the exclusion of electrons occupying the two conduction band valleys from different regions of the sample. This is analogous to the well-known giant magnetoresistance (GMR) effect, with valley playing the role of spin and strain the role of magnetic field.