Jim Carrey is teaming up with writer-director Steve Oedekerk and Summit Entertainment to revive the languishing comedy Ricky Stanicky. We reported way back in August 2010 that James Franco was attached to star, with Peyton Reed in talks to direct, although they are no longer on board.

The story, originally written by Jeffrey Bushell, centers on three teenage friends, whose prank goes awry and causes a house to burn down. The trio creates a fictitious person, Ricky Stanicky, who they blamed the fire on. 20 years later, the friends are still using this figment of their imaginations as a scapegoat. The plot thickens when their girlfriends and wives all demand to meet this troublemaker, which forces the friends to hire an actor to portray him.

Steve Oedekerk is rewriting the screenplay and will direct, with Michael De Luca and John Jacobs producing. Shooting is tentatively scheduled to begin sometime this summer.

Steve Oedekerk previously wrote the Jim Carrey comedy Bruce Almighty and directed the funny man in Ace Ventura: When Nature Calls.