Ferg's new Scuba Squadt? Teaser pic & speculation

Ferg posted the above teaser to his Twitter feed yesterday, but with no word as to what it was. It appears to be a Scuba Squadt, dressed in a sweet diving suit complete with flippers on his feet, an underwater knife in his hand, and a harpoon gun behind him. While this might be a custom, my guess is that it is the next Squadt release proper; we'll update you as we learn more. **UPDATE** according to Vinylgoddess, keeper of all things Circus Posterus, she tells us that this figure is named "Fr0g"... very fitting to say the least.