This is Derrick the Deathfin, a new action-platformer that is hitting PS3 in a couple of weeks. It looks really interesting, sort of like Ecco the Dolphin meets Paper Mario. And as you can see in the trailer above, it was developed using some unusual techniques.
The game will be on PSN October 9 for $7.99.
New PSN Exclusive Derrick the Deathfin Swims To PS3 October 9th [PlayStation Blog]