Former staff at Rare are hoping to develop what they are describing as a "spiritual successor" to Banjo-Kazooie.
The group has started a Twitter account to gauge interest in the new project. It's unclear exactly what the game would be, as the Twitter account assures that they "wouldn't try to recreate Banjo. It would be something new."
The team newly formed team, called Mingy Jongo, is comprised of series composer Grant Kirkhope and artist Steven Hurst, as well as other people thought to have worked on the core elements of the previous game.
The group said it aims to deliver "a game that shares that same kind of humour, silly characters, fun game play, great tunes and allthat stuff that we enjoy making."