"Heat Vision is reporting that Lucasfilm is developing an untitled, top-secret CGI-animated musical at George Lucas' Skywalker Ranch.
Kevin Munroe (TMNT) is directing the film, which is expected to feature music from a variety of sources. Munroe recently wrapped production on Dead of Night, a live-action adaptation of the horror comic series 'Dylan Dog'.
David Berenbaum (The Spiderwick Chronicles, Elf) wrote the screenplay for the project, which reportedly features fairies."
I'm gonna paraphrase a Luke Skywalker line from Star Wars Episode V: The Empire Strikes Back - "If you think this is a bad idea, I'm beginning to agree with you."