According to the IMDB listing, Tooth Fairy 2 is scheduled to be released on video in February 2012. It was directed by Alex Zamm, who’s previous direct to video sequels include Beverly Hills Chihuahua 2, Dr. Dolittle: Million Dollar Mutts and Inspector Gadget 2. He’s currently in pre-production on a live action feature film version of the Hannah-Barbera cartoon Hong Kong Phooey which features Eddie Murphy as the voice of the title character and should hit theaters in 2014.
The photo with the story is a badly photoshopped image that I created for the story and does not represent actual promotional material for the film.
Here’s a photo from a Set Visit from a blog called The Dirty T-Shirt: