  We have surveyed $\sim40$sq.degrees surrounding M33 with CFHT MegaCam in the
g and i filters, as part of the Pan-Andromeda Archaeological Survey. Our
observations are deep enough to resolve the top 4mags of the red giant branch
population in this galaxy. We have previously shown that the disk of M33 is
surrounded by a large, irregular, low-surface brightness substructure. Here, we
quantify the stellar populations and structure of this feature using the PAndAS
data. We show that the stellar populations of this feature are consistent with
an old population with $<[Fe/H]>\sim-1.6$dex and an interquartile range in
metallicity of $\sim0.5$dex. We construct a surface brightness map of M33 that
traces this feature to $\mu_V\simeq33$mags\,arcsec$^{-2}$. At these low surface
brightness levels, the structure extends to projected radii of $\sim40$kpc from
the center of M33 in both the north-west and south-east quadrants of the
galaxy. Overall, the structure has an "S-shaped" appearance that broadly aligns
with the orientation of the HI disk warp. We calculate a lower limit to the
integrated luminosity of the structure of $-12.7\pm0.5$mags, comparable to a
bright dwarf galaxy such as Fornax or AndII and slightly less than $1\$ of the
total luminosity of M33. Further, we show that there is tentative evidence for
a distortion in the distribution of young stars near the edge of the HI disk
that occurs at similar azimuth to the warp in HI. The data also hint at a
low-level, extended stellar component at larger radius that may be a M33 halo
component. We revisit studies of M33 and its stellar populations in light of
these new results, and we discuss possible formation scenarios for the vast
stellar structure. Our favored model is that of the tidal disruption of M33 in
its orbit around M31.
