He's definitely a staple of Toronto. You haven't been to Toronto until you've had an encounter with this guy.
Usually standing at the northwest corner on weekdays, this guy waits until there is a mob of people crossing the intersection, then he starts to yell either "JESUS!" or "BELIEEEEEEEVE IN THE LORD!" Some people find it very frightening, but others find it entertaining as well. He bears some resemblance to the bush man in San Francisco down by Fisherman's Wharf in terms of startling passerbys.
So next time when you're near the Yonge/Dundas intersection and someone startles you, you know who it is! Besides, would you rather be startled by him or dominated by the Islam signs across the street?