After an intense bidding war, DreamWorks Animation SKG, Inc. has won the film adaptation rights to Dav Pilkey's most popular and award wining children’s book series “Captain Underpants”. The series contain nine books including the upcoming “Captain Underpants and the Terrifying Return of Tippy Tinkletrousers”, which is scheduled for release in 2012. Scholastic first published Captain Underpants book series in 1997 and over a fifty million books were printed and sold in the United State and several other countries, and some of them debuted at number one on The New York Times bestsellers list.
The story follows two school boys named George and Harold. They are the authors of the Captain Underpants comic book that they trade for fifty cents. Their principal named Mr. Krupp hates the both, who are famous to be double dealers. Their teasing manner troubles the pants of him but he shortly discovers some dirt on the boys that is a video of them causing chaos at a major soccer game. The principal threatens to display it to some of the creepy soccer players. They have to get that video first, and they achieve that with the assist of a ring that has the capability to mesmerize it's victim. After getting the video, they decide to have some more fun with the ring and their principal. And Captain Underpants is born.