1. A vehicle periphery monitoring device which monitors a periphery of a vehicle using images representing a peripheral condition of the vehicle obtained through an imaging device mounted on the vehicle, comprising: an object detecting element which recognizes the existence of an object on the basis of the image; an object tracing element which determines whether or not the objects detected by the object detecting element on the basis of the images taken at each of a first point in time and a second point in time satisfy an identity requirement that the objects are identical; a distance measuring element which measures a distance from the vehicle to the object; a first object region setting element which sets a region in the image where the object exists as a first object region; a first local region setting element which sets a region arranged at a pattern in accordance with each of a plurality of object classes, taking the first object region at the first point in time as reference, as a first local region; a second object region setting element which sets, for the object determined as satisfying the identity requirement by the object tracing element, the first object region at the second point in time which is enlarged or reduced by a ratio of the distance at the second point in time to the distance at the first point in time that are measured by the distance measuring element, as a second object region; a second local region setting element which sets, in the same pattern as with the arrangement pattern of the first local region set by the first local region setting element, a region arranged taking the second object region set by the second object setting element as reference, as a second local region; a degree of correlation evaluating element which evaluates a degree of correlation between the first local region set by the first local region setting element and the second local region set by the second local region setting element; and an object classifying element which classifies the object to the object class in accordance with the arrangement pattern of the first local region satisfying a correlation requirement that the degree of correlation evaluated by the degree of correlation evaluating element is equal to or larger than a threshold value.