Lollipop Chainsaw, a new title in the works from developer Goichi "Suda51" Suda's Grasshopper Manufacture. As you can tell from the (scandalous!) footage above, the game's about a cheerleader named Juliet -- who also happens to be a zombie slayer with a chainsaw.
The official site lists the location as "San Romero High School," and since American horror/comedy director James Gunn is also along for the ride, you can probably expect plenty of sly references like that one in the game. Lollipop Chainsaw is targeting a 2012 release on Xbox 360 and PlayStation 3.