Stretch is currently exclusive to set 7789 Lotso's Dump Truck. This will be the first time Stretch has been in the LEGO universe.
Minifigure Parts and Accessories
Stretch appears to be composed of two parts. The first is a purple version of part 30151, a new color for this part. The face is printed on the dome.
There's also an eight-legged base that seem reminiscent of a splotch or splatter of paint. There appear to be 'suckers' on each arm. There are connections to the dome and at the bottom are similar to a round plate. The base is made from some form of rubberized material.
Army Building Potential
I imagine the ABP for this figure is low to moderate. There will be a couple of features that will primarily determine this.
If the domed part that comprises his head is printed, then it may not be sought after in multiples. If his face is a sticker, however, builders might want part 30151 in the new purple color.
It's also possible that builders and custom minfig designers will seek out the octopus base.
I think if a collector is seeking to fill out a LEGO Toy Story collection, then Stretch has appeal. Some of the unique parts may also make Stretch sought after. Once more details become available, we'll update this article.
(Picture from Amazon.com)