This paper presents a novel bounded fourdimensional (4D) chaotic system which can display hyperchaos, chaos, quasiperiodic and periodic behaviors, and may have a unique equilibrium, three equilibria and five equilibria for the different system parameters. Numerical simulation shows that the chaotic attractors of the new system exhibit very strange shapes which are distinctly different from those of the existing chaotic attractors. In addition, we investigate the ultimate bound and positively invariant set for the new system based on the Lyapunov function method, and obtain a hyperelliptic estimate of it for the system with certain parameters.