Finno-Ugrian Theory
The most widely accepted theory of the Magyar's origin is the Finno-Ugrian concept. Advocates of this theory believe the linguistic and ethnic kinship between the Hungarians and the Finns, Esthonians, Ostyaks and Voguls provide evidence for the origin of the Magyars. This relation of the Magyars with the Finns places the ancient homeland of the Finno-Ugrians on both sides of the southern Ural Mountains. The advocates of this theory insist that Magyars came from this group in the Urals, and as the theory explains, it was about 2000 B.C. that the Finnish branch broke away to settle in the Baltic area. The Magyars remained on the West Siberian steppes with the other Ugrian peoples until 500 B.C. It was then that the Magyars crossed the Urals westward to settle in what is present day Soviet Bashkiria, north of the Black Sea and the Caucasus. The Magyars remained here for centuries with the various Ural-Altaic peoples such as the Huns, Turkic Bulgars, Alans and Onogurs. The Magyars soon adopted many cultural traits and customs of these people and it was from the region of Soviet Bashkiria that the Magyars started their migration westward toward the Carpathians.
After World War II, the Finno-Ugrian theory was challenged by scholars who argued that the Finno-Ugrian theory was based on linguistics alone, without support in anthropology, archeology or written records.
Orientalist Theory
Scholars known as orientalists believe that the origin of Magyars and their language is not found in the Urals, but in Central Asia known as the Turanian Plain or Soviet Turkestan which stretches from the Caspian Sea eastward to Lake Balchas. Ancient history has traditionally called this region Scythia. Folklore holds that the Magyars are related to the Scythians who built the great empire of the 5th century B.C. After the Scythian empire dissolved, the Turanian Plain witnessed the rise and fall of empires built between the first and ninth centuries A.D. by the Huns, Avars, Khazars and various Turkic peoples, including the Uygurs. The Magyars subsequently absorbed much of the culture and tradition of these peoples and many Onogur, Sabir, Turkic, and Ugrian people were assimilated with the Magyars, resulting in the Magyar amalgam, which entered the Carpathian Basin in the later half of the ninth century A.D.
Scholars of Far Eastern history believe that the Magyars were also exposed to the Sumerian culture in the Turanian Plain. Linguists of the 19th century, including Henry C. Rawlinson, Jules Oppert, Eduard Sayous and Francois Lenormant found that knowledge of the Ural-Altaic languages such as Magyar, helps to decipher Sumerian writings. Cuneiform writing was found to be used by the Magyars long before they entered the Carpathian Basin. The similarity of the two languages has led orientalists to form a Sumerian-Hungarian connection. The orientalists speculate that a reverse of the Finno-Ugrian theory may be possible. The theory holds that if the proto-Magyars were neighbors of the proto-Sumerians in the Turanian Plain, then the evolution of the Hungarian language must have been a result of Sumerian rather than Finno-Ugrian influences. The theory in turn holds that rather than being the recipients of a Finno-Ugrian language, it was the Magyars who imparted their language to the Finns and Estonians without being ethnically related to them. What scholars site for added evidence for this theory is the fact that the Magyars have always been numerically stronger than their Finno-Ugrian neighbors combined. The theory believes that the Finns and Ugors received linguistic strains from a Magyar branch who had broken away from the main body on the Turanian Plan, and migrated to West Siberia.
The Magyar-Uygur Theory
The connection between the Magyars and the Uygurs tie Hungarians even closer to Asia. The Uygurs are people who live in the Xinjiang province of China. The Uygurs are Caucasian in appearance and maintain a Turkic language. To the north of the Uygar's border stretches the Dzungarian Basin which has a striking similarity to the word Hungarian. Northeast of the Dzungaria lies the Altai Mountain Range, a name used by linguists to define the Ural-Altaic language group to which the Magyar language belongs. Further up to the north stretches the Lake Baykal region where first the Scythians, then the Huns emerged to conquer the Turanian Plain. The Magyars, Uygurs and the Turks may also have started their migrations from the northeastern part of the Baykal area.
Further anthropological, archeological and linguistic research must be conducted on this theory, but is limited by the little access the Chinese government grants foreigners to the region. There are, however, many Asiatic influences seen among Hungarians today. Hungarian legends and folk tales are strikingly similar to those of Asian peoples. The structure of Magyar folk music, which uses the pentatonic scale, also points to Asian origins.
The beautiful gates of the Székely people in Transylvania bear a strong resemblance to those in the pagodas of China (Marka Ragnos, maybe the answer of your question under the thread "Magyar's bad behaviour"?). The ornate tombstones carved from wood are also similar to those seen in Chinese cemeteries. The Hungarian cuisine shows traces of Asia in its use of strong spices such as paprika, pepper, saffron, and ginger.
Which one do you think to be the most possible one? I think they all could be true. 1 and 3 are the most possible ones, some Hungarian scholars even went to Uyghuristan to look for their people's roots (during Communist era); they had told that they founded many similarities. And of course with Finns, the linguistic connections between the both Nations cannot be denied, it's told to look like each other as much as German looks like to English; in spite, during the last 1000 years, you see pretty no connection between these people.