This is Walter, the newest Muppet.
Walter will star in a new Muppet movie next year, where in order to raise money to save the original Muppet theater, he comes up with an "original" idea.
"Hey gang, let's put on a show!"
Straight out of Our Gang Comedy's playbook.
But anyway they get all the old Muppets back together again, even Ms Piggy & Kermit.
link