Paul Feig is in line to direct a live action movie based on a malleable modelling clay brand.
The project is a collaboration between 20th Century Fox and toy maker Hasbro, reports Deadline.
Hasbro has already found considerable success with "Transformers," and the upcoming "Jem and the Holograms" is subject to a well co-ordinated groundswell of online buzz.
The LEGO Group proved that simple toys could provide viable blockbuster material, teaming up with Warner Bros for light-hearted CGI adventure "The Lego Movie" in 2014.
Paul Feig, well known for "Bridesmaids," has Melissa McCarthy comedy "Spy" due in June and a new "Ghostbusters" coming in 2016.
Writer Jason Micallef provided the script for 2011 comedy "Butter," which had Jennifer Garner and Ty Burrell in the lead roles.