Here's the plot: It's the night before a Peeps diorama contest, and a Peep gets misplaced. He has to make his way through the various fantasy lands of several other dioramas to get back to his before the judging begins.
It's probably safe to assume this will be an Easter release. There's no word what year we can expect it.
Yes, there are actually Peeps diorama contests. The "Washington Post" holds one every year. The 2014 winner was based on MARTIN LUTHER KING'S "I Have a Dream" speech. (Check it out, along with some of the finalists, here.)