I'd be intrigued in what a Muppet version of It's favorite form would look like. And how exactly would the character work within the show's dynamics? Would he be a throwback to
's earlier appearances when he was more vampirically empowered? Or would he teach about letters with his individually artistically depictive balloons?
Another thing to consider... Would a Muppet version of Pennywise be limited to just its main killer clown form? Instead of an actual puppet, he could be a digital character allowing for all his shape-shifting when encountering different characters, a more modern version of Waldo C. Graphic without the affliction of literalatis that Betelgeuse (animated version) suffers from.
Either way, this concept merits more thought than just a simple suggestion of *insert specific character* here.