Ubisoft has announced the fourth installment in the Rayman franchise, titled Rayman Raving Rabbids, is currently in development at Ubisoft's award-winning Montpellier studio and will be playable on all of the next-gen consoles (including the Nintendo Wii). Michel Ancel, the creator of the Rayman series (not to mention the designer of Beyond Good & Evil and the director of King Kong: The Official Game) will be leading the project.

According to Pro-G, the game will deal with the chaos that ensues when a mass of mad bunnies runs amok in Rayman's happy little world. The one screenshot that has been released is quite impressive, but we look forward to seeing more next week when the game makes its debut at E3.