Double Fine Productions, including Tim Schafer, have let loose on one of their four downloadable projects in the works. Previously, at Develop, Schafer made note that the studio was moving towards creating smaller, downloadable games. Costume Quest is the first of those, headed by lead designer Tricia Harris. Being published by THQ, the game is an action adventure-RPG set on Halloween night and the story follows a young boy trying to find his sister after losing her during trick-or-treating, all before curfew.

The premise seems simple, the combat is dictated by a menu based system that allows you to attack, defend, and use a special attack. Assorted items collected like candy, cards, and battle stamps have a role in the game’s combat system. Also, players will be able to transform into gargantuan sized versions of their costumed to face off against monsters and other kids.

And release date? Take a guess…October 31st for Playstation Network and Xbox Live Arcade.

Source: G4TV, Shacknews, UGO