We have conducted a search for Hα emission-line stars within the field containing the reflection nebula NGC 2626 and the associated dark cloud DC 259.9-0.0. Thirty-two Hα stars, most of them newly discovered, have been identified. Magnitudes and colors for these stars are listed. Some are found to be variable and are possible T Tauri stars. Changes between 1991 and 1999 in the brightness and appearance of a small reflection nebula in the region are shown. These are caused by an unevenly obscured young stellar object which is the probable source of IRAS 08337-4028 and the Herbig-Haro object HH 132. The overall morphology of the small nebula is strikingly similar to that of the well-studied HH 46-47 configuration, but the NGC 2626 region is at about twice the distance.