Basically SEO community is main reason to generate Google Panda. We all are doing lot of spam for google search result manipulation.
Google Panda is an algorithm made by an engineer Mr. Navneet Panda. First version of Panda released in February, 2011.
I do not exactly remember the name of the person who generated the Google panda, but when i put pressure on my mind then it whistles sounding Navneet and panda. So, no need to get much frustrated as this is true.
Google Panda Algorithm is developed by Google company only. For more details about Google panda, Please go through here: http://en.wikipedia.org/wiki/Google_Panda