Zootfly, the developer behind those cool Ghostbusters 360 videos just announced their Live Arcade debut, and XBLArcade.com has the first pictures:

The game is called Toy Wars and there's no word on a release date, yet. Gamespot has an interview with Zootfly that reveals a few details:

GS: Do you have any other projects currently in development?
BT: We're working on an Xbox Live Arcade/E-Distribution title called Toy Wars. This time it's about toys that have taken over the house and the backyard. It's a multiplayer-only game where players control a variety of toys--from bulldozers to robots--and fight it out in sandboxes and living rooms.

I'm looking forward to this already -- the screens remind me of an old Dreamcast game called Toy Commander that I spent a lot of hours with.