McFarlane toys did do a line of Wizard of Oz toys that was pretty wierd. The two photos are of Dorothy with a Munchkin and the Scarecrow - so you can see how wierd these are.
"Warner Bros. and Village Roadshow Pictures are teaming on "Oz," a revisionist take on the L. Frank Baum books that hatched "The Wizard of Oz."
Project was acquired based on an idea by Todd McFarlane that was fleshed out and pitched by Josh Olson ("A History of Violence").
Olson will write and McFarlane will produce with Thunder Road’s Basil Iwanyk. Rick Benattar ("Shoot ’Em Up") is exec producer."
This is still in its early stages, so we will see how it all flushes out in the end. I'm thinking it might be something like Wizard of Oz meets Pan's Labrynth meets Clockwork Orange.