Octavio Gaona (1902–1996) was a Mexican Luchador, or professional wrestler, known for his participation in the first ever high profile Lucha de Apuesta, or wager fight, against Murciélago Velázquez.

By 1937, Gaona wrestled full-time for Salvador Lutteroth's Empresa Mexicana de Lucha Libre (EMLL).

[3][4] On July 14, 1940, Octavio Gaona defeated Murciélago Velázquez, forcing him to unmask after the match in what would become a Lucha Libre tradition.

[4][5] In 1942 Velázquez would get his revenge on Gaona when he defeated him to win the vacant Mexican National Middleweight Championship, although the victory could never equal the loss of the mask.

[6] Octavio Gaona also adopted Francisco Ruiz Arreola, who would wrestle under the name "Tamba", nicknamed "the Flying Elephant".