Toy Story 3 in production
The company has not yet divulged when the project will be completed but Pixar is currently working on the film, having taken over from Disney's in-house animators.
The Toy Story franchise has become a favourite among adults and children since Woody the kind-hearted toy cowboy, played by Tom Hanks, first encountered Tim Allen's arrogant astronaught Buzz Lightyear.
The first Toy Story, released in 1995, was Pixar's first feature length film and gave the audience a glimpse of what toys got up to when people weren't around.
In the first film Buzz and Woody battled it out to be Andy's favourite toy before putting their alpha male dispute to one side to become firm friends.
The second Toy Story film followed on directly from where the first left off and whether that will be the case in the third part remains to be seen, although some reports have suggested that Buzz could be taken back to Taiwan as part of a product recall.
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