The black dog -- a male -- is approximately six months old. We've learned it was bred at the kennel and sold to someone who gave it back. The kennel is now "re-homing" the dog to the Obamas. The dog was named Charlie, but the Obamas will rename it.
Now here's where the Kennedys come into play. The kennel has sold the Kennedys three Portuguese Water Dogs in the past, all from the same lineage. The dog the Obamas will be getting is from the same lineage as the Kennedy dogs. The Kennedy family will be presenting the new dog to the Obamas, but it's really coming from the kennel.
The reason this all sounds so technical is that there are issues regarding gifts to the Prez. The fact that the pup is being re-homed makes it all kosher.
The dog pictured below (right) is the actual dog the Obamas will be getting, courtesy FirstDogCharlie.com.