Chrysalis Music, Posh Paws, Universal Music, Big Ideas and DCD Publishing are joining forces to create a new plush inspired by the Donny Osmond hit, Puppy Love.
Now in development, the toy will sing the original 1972 number one hit, which was written by Paul Anka.
Puppy Love was featured in the 2008 animated Wallace and Gromit short, A Matter of Loaf and Death.
Michael Gottlieb, head of licensing and music merchandising at DCD Publishing (and pictured with Donny Osmond), said: "Sometimes a product just begs to be developed."
Gareth Smith, head of synchronisation at Chrysalis Music, added: "The puppy toy is not only a new and important source of income, but gives a new lease of life to an iconic song."