Untitled Third Tim Burton Pee-wee Herman film

In 2008, Paul Ruebens approaches Burton with one of two scripts and talked to Johnny Depp about the possibility of having him portray Pee-wee in a potential third film, but they both declined.

Why It Was Cancelled

 * 1) Johnny Depp and Tim Burton chose not to star in the film.

Result

 * In 2016, Netflix made a original film with Paul Ruebens returning called, Pee-Wee's Big Holiday.