Three of the most famous faces of Nintendo in Japan and the US are portrayed by puppet caricatures (which I believe are built by JHC, the supporting characters seem to be former Henson puppets, correct me if I'm wrong) who then morph into the cast of StarFox (also puppets) to announce a new StarFox game at this year's E3.
It's a clever little thing, and it's got some fun in-jokes as well. If you haven't already seen it -- chances are you'll be seeing them any moment in your Tumblr dashboard -- here's your chance.