Hasbro's action figure was popular around the world beginning in the 1970s and re-launched in the 1990s.
Letterman directed 20th Century Fox's upcoming Gulliver's Travels, which was co-written by Stoller. Letterman also co-directed Monsters Vs. Aliens, while Stoller co-wrote and directed Universal's Get Him to the Greek. Stoller also directed the studio's Forgetting Sarah Marshall.
Steve Oedekerk wrote the original screenplay for Stretch Armstrong.
Imagine Entertainment's Brian Grazer is producing with Brian Goldner and Bennett Schneir for Hasbro. Kim Roth is executive producing for Imagine.