And so far I've found two of these pieces of work!
This first one splices together footage from E.T. with another Steven Spielberg movie, War of the Worlds. Here is E.T. Returns...
Not bad! I like how it takes Tom Cruise's character from War of the Worlds and turns him into the older Elliot.
But the trailer for E.T.-X, made with overwhelmingly original footage, is so crazy insanely ludicrously... AHHHH just see for yourself! If E.T. didn't scare you at the theater before, it sure will now!
Michael Bay should team up with Spielberg and make that 'un after he finishes this next Transformers movie. I would pay just to see the bad E.T.'s crush the Jonas Brothers :-P