There isn't much information about TJ&E 3, except that it will be like the first game, have all of the original presents, a Jam Out mode (yay!), a new character, and rumored internet capabilities.  There was a movie clip shown at the Electronic Entertainment Expo but that was all we've seen of it so far.  I've picked apart the movie clip and ripped some screens (not very good ones, but bear with me) for you, and I will point out some of the things we can assume will be there.

Pic 1- A picture of Earl using some sort of "Funk Fu" attack.  Maybe it's a present or a special ability or something.  Note the return of the insane dentist and the suspicious appearance of a music note by the life bar.  Do you collect music notes in TJ&E3?  Maybe…*addition* When he uses the attack his music note counter increases from 9 to 10.  Hmmmm….

Pic 2- Earl using some sort of "Funkify" attack.  Notice that he's throwing a music note with wings, one that looks exactly like the one near the life bar.  Maybe collecting the music notes gives you power for special attacks…*addition* When he throws the music note, his little music note counter by the life bar decreases from 9 to 8, meaning that you DO use them for special attacks and such.

Pic 3- The result of Earl's Funkify attack.  Turned a lawnmower guy (remember them?) into a funky Hollywood-looking star.

Pic 4- ToeJam and Earl high-fiving like the good ol' days.

Pic 5- ToeJam breaking out the icarus wings.

Pic 6- Lawnmower guy chasing Latisha.

Pic 7- Latisha barreling through a canyon on rocket skates.

Pic 8- An example of split-screen play.  Notice the boogeyman.

Pic 9- ToeJam and Latisha walking in a winter wonderland.

Pic 1               Pic 6
Pic 2               Pic 7
Pic 3               Pic 8
Pic 4               Pic 9
Pic 5