Riiiight. If you ever wanted to play a game as a nerdy dweeb who runs happily along beaches and fields, occasionally transforming into a Captain America lookalike named Captain Rainbow, all while receiving running commentary from Birdo -- then this is the game for you. Just, watch.
According to some of the GAF regulars, the main character (ie. nerd version of the Captain) is named Nick, he's an American hero, and the game is scheduled for a Japanese release in summer 2008. More details can also be found at Hatena, where we learn the game is a registered trademark of Nintendo, and it's an "orgy of high tension." One word for that -- LOL.