It is new Unity default Shader.
Disney SSS + ACES.
I really need to find out more about this…how?..where?..Ive spent two weeks, bought a skin shader and uber, and still not happy…show me the way!!..please
It comes under two initial flavours: LW (Lightweight) available in 2018.1 beta out any day now, and this does not contain skin.
The other (with skin and new rendering) is HD and this is coming later. What you need to know is it’s developed by Unity (possibly deployed by package manager) so hold your horses… meanwhile why not do a search for it on forums, there are lots of threads about it
Edit: Unity Blog
There is no SSS in Lightweight pipeline. And Hd pipeline also has many problems. And There is some custom shader codes. Is is very funny. Are there so many HD pipeline thread? Silver bullet can not shoot without a gun.