Baphomet is one of several new Titans confirmed to dwell somewhere in the MonsterVerse in Godzilla: King of the Monsters, but never seen. It was stated early in the movie that Monarch was aware of the existence of 17 Titans, but there are quite a few that never appeared in the flesh.
Five of the Titans -- Godzilla, King Kong, King Ghidorah, Rodan, and Mothra -- are established characters who predate Legendary's MonsterVerse by decades, but the rest are original to the MonsterVerse. In Godzilla: King of the Monsters, a third M.U.T.O., Methuselah, Scylla, and Behemoth all make their MonsterVerse debuts when they answer Ghidorah's summons. However, this is only a handful of the Titans that live in the MonsterVerse, and there were several more who heard Ghidorah's call, but simply weren't shown on screen, nor did they arrive in time to see Godzilla's triumphant victory over Ghidorah.
One of Monarch's monitors features names of all the Titans they've discovered, and locations of the outposts where the Titans currently live. Among the names on the monitor is Baphomet, who is apparently located at Outpost 68 in Volubilus, Morocco. The name "Baphomet" is tied to the fall of the Knights Templar, an order of soldiers who severed the Catholic Church in the Middle Ages. In the 14th century, King Phillip IV of France ordered the arrest of the Templars after they were accused of numerous scandalous crimes, including the worship of an idol head called Baphomet.
Archaeologists and historians have long investigated the origin of this idol head. It's believed that Baphomet was a twisted interpretation of Mohammad, the founder of Islam. It's said that the idea of Baphomet was created when the Templars traveled to the Middle East and became incorporating Islamic culture into their own belief systems. Today, the name "Baphomet" is associated with a demonic, goat-headed entity, but this image of Baphomet didn't originate until centuries later, so the modern idea of who Baphomet is and what he represents likely has no connection to the MonsterVerse Titan.
What's the link between Baphomet and resting place in the MonsterVerse? Baphomet lived in Volubilus, a city that was built two thousand years ago, at a time when the Romans ruled the region. Walls and temples found in the runs of Volubilus reveal images of the Greek hero, Actaeon, who was transformed into a rampaging stag. It's possible that Baphomet is connected to Actaeon, and that the MonsterVerse's Baphomet is a horned creature of some kind.
Volubilus fell before the Templars began worshiping Baphomet, so the link between the deity worshiped by the Templars and a Roman city in Morocco is difficult to pinpoint. It could be that the creature left its home in Volubilus and was encountered by the Templars years later, before returning to Volubilus at a later point in time. Unlike Leviathan and Amhuluk, Baphomet's historical and mythological connections don't shed much light on his true nature, which makes Baphomet one of the biggest mysteries of the MonsterVerse.
