When Disney acquired Pixar earlier this year, part of the deal was that Disney would shut down production on Toy Story 3. And that any future development would be handled solely by Pixar themselves.
Well, now it looks like Pixar are indeed cranking the sequel back into production. According to Disney CEO Robert Iger, the plan is for Disney to release two Pixar movies a year, instead of one. And one of those possible future releases - should they actually decide they have a workable idea - could be Toy Story 3. As of now, there’s no word on if the team will retain the plotline that the Disney bods were working on – namely, Buzz being recalled to Taiwan and the toys rallying to save him.
Toy Story 3 review