Board Thread:Theories and Speculation/@comment-1872728-20151008101009

This could be the senjutsu equivalent of the Susanoo. This jutsu requires the Gift of the Hermit Group chakra, which in Japanese is 仙族の才. Sage in Japanese is 仙人, which can also translate to 仙族 if you consider a group of Sages. And so 仙族の才 can be translated to Sage Group's Skill, which means this chakra is basically a sage skill, so senjutsu chakra. As you can see, Sage Mode and Sharingan is like the equivalent to each other, and in the anime it shows Naruto (Sage Mode) fighting Six Paths of Pain (Rinnegan, which is the evolved Sharingan), and Sasuke/Itachi (Sharingan) fighting Kabuto (Sage Mode).

When the Sharingan has the Susanoo, a chakra battle avatar, the Sage Mode has to have a battle avatar as well, and this is where this jutsu comes in. This jutsu summons a yellow Buddha thing, and yellow is the colour of senjutsu chakra. Naruto has Kurama to create the battle avatar, but how about Asura? His battle avatar doesn't look anything like any Tailed-Beast. So we can assume that it's this jutsu, because Asura inherited the senjutsu part of Hagoromo, and with senjutsu he can create it. His avatar is not a Buddha, but something else, like how the Susanoo differs between each person.

How Chiriku got this jutsu? We'll, monks meditate, like how you achieve Sage Mode, and maybe the monks can achieve a stage where they can utilise senjutsu, but can't achieve Sage Mode. Or, the monks are trained under an Uzumaki member, who became their master. This also explains why the monks know how to use Tailed Beast Chakra Seal, which as the name says, a sealing method to seal Tailed Beasts, something Uzumaki Clan is well known for. Or, maybe Chiriku is from the Uzumaki/Senju Clan, and because he doesn't have hair, we don't know. 