  We present extensive optical (UBVRI), near-infrared (JK) light curves and
optical spectroscopy of the Type Ia supernova (SN) 2006X in the nearby galaxy
NGC 4321 (M100). Our observations suggest that either SN 2006X has an
intrinsically peculiar color evolution, or it is highly reddened [E(B -
V)_{host} = 1.42+/-0.04 mag] with R_V = 1.48+/-0.06, much lower than the
canonical value of 3.1 for the average Galactic dust. SN 2006X also has one of
the highest expansion velocities ever published for a SN Ia. Compared with the
other SNe Ia we analyzed, SN 2006X has a broader light curve in the U band, a
more prominent bump/shoulder feature in the V and R bands, a more pronounced
secondary maximum in the I and near-infrared bands, and a remarkably smaller
late-time decline rate in the B band. The B - V color evolution shows an
obvious deviation from the Lira-Phillips relation at 1 to 3 months after
maximum brightness. At early times, optical spectra of SN 2006X displayed
strong, high-velocity features of both intermediate-mass elements (Si, Ca, and
S) and iron-peak elements, while at late times they showed a relatively blue
continuum, consistent with the blue U-B and B-V colors at similar epochs. A
light echo and/or the interaction of the SN ejecta and its circumstellar
material may provide a plausible explanation for its late-time photometric and
spectroscopic behavior. Using the Cepheid distance of M100, we derive a Hubble
constant of 72.7+/-8.2 km s^{-1} Mpc^{-1}(statistical) from the normalized
dereddened luminosity of SN 2006X. We briefly discuss whether abnormal dust is
a universal signature for all SNe Ia, and whether the most rapidly expanding
objects form a subclass with distinct photometric and spectroscopic properties.
