No, ISIL was there before Obama was elected.
ISIS’s precursor, Al-Qaeda in Iraq, emerged in 2004 to resist the American occupation. Led by Abu Musab Zarqawi, a Jordanian, the group consisted of Sunnis, many of them disgruntled former Iraqi soldiers left without paychecks after the Bush administration disbanded the Iraqi army. Using suicide bombers and improvised explosive devices, Zarqawi and his recruits attacked American troops and Shiite mosques in a bid to expel American soldiers, foment a sectarian war and establish an Islamic caliphate in Iraq.
http://www.newsweek.com/2015/07/03/isis-george-w-bush-barack-obama-342613.html