The American bison, also called the American buffalo or simply buffalo, is a species of bison native to North America. It is one of two extant species Hundreds of years later, the term buffalo is still commonly used to refer to bison. It can be confusing, however, because buffaloes are animals of their own, with water buffaloes living in Asia and Cape buffaloes, or African buffaloes, living in Africa.of bison, alongside the European bison.