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If it wasn't for the plot of the movie, my theory would be that Mewtwo was created by splicing the genes of Mew, the most powerful Pokemon of Kanto, with Newtwo, a more aggressive legendary.
After all, Mewtwo does look like a cross between Mew and Newtwo.
He has a tail, but it is similar in shape to Newtwo's head thing.
His body type and color is more similar to Newtwo than Mew's.
His eyes are purple, a mix of Mew's blue and Newtwo's red.
This is what Id like to be the truth.
However, it's probably a new forme, which I think would be stupid and unnecessary.
I do like the design though, so I might use him if it gets a beneficial stat redistribution.