Monster Lab sees the player take control of a scientist's apprentice, tasked with creating Frankenstein's monster-like creatures from individual body parts; according to Eidos, some 100 million body part combinations are possible. Online play, a relative rarity among third party Wii games, is supported, allowing players to battle and trade parts.
The game is set in a land called the Uncanny Valley--with its color-saturated visual look, this is likely a tongue-in-cheek comment on that phrase as it applies to gaming.
Monster Lab is set for release on Wii and DS later this year. A trailer can be seen below.
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No clear idea on how gameplay will work, but it sounds interesting in theory.