Keaton's unmasked Batman is the McFarlane figure to grab

McFarlane Toys opened pre-orders on Monday, October 26, 2026, for three new DC Multiverse Deluxe Theatrical Edition figures: an unmasked Michael Keaton Batman from Batman Returns, Alicia Silverstone's Batgirl from Batman & Robin, and Colin Farrell's Oz Cobb from HBO's The Penguin. Flickering Myth lists all three at $34.99 each, 7 inch scale, with up to 22 points of articulation.

Three figures, one price, one evening's worth of pre-order tabs. I only want one of them badly, and it is the one with the broken face.

Why this wave matters more than it looks

The timing is the story. At the McFarlane Toys panel at New York Comic Con, Todd McFarlane opened by talking about the end of the company's DC license, which moves to Mattel at the start of 2027, according to The Beat's panel recap. These three movie and TV figures were part of that same panel's reveals. On the other side of the handoff, Toy Habits reports that Mattel's new DC Collector line has a worldwide launch date of January 1, 2027, with no figures, characters or packaging shown yet.

So when you look at a $34.99 Keaton today, you are not just looking at a figure. You are looking at one of the last chances to finish a McFarlane DC shelf in McFarlane's scale and style, before a different company with different design choices takes over. Nobody has said what Mattel's collector figures will look like. That uncertainty is exactly why people finish a run instead of waiting.

The best figure in a late wave is the one that adds a moment, not just another costume.

What is in each box

Here is the lineup as listed by McFarlane's product copy via Flickering Myth and the accessory rundown from DC Collectors.

Same price, very different value. Batman gets a new story beat. Batgirl gets the most hands and the most batarangs. The Penguin gets the most weapons and the fewest hands, which is about right for Oz.

The Keaton is the pick, and here is the detail that sells it

DC Collectors points out that the broken mask captures the finale of Batman Returns, when Bruce Wayne unmasks himself in front of Selina Kyle and Max Shreck. That is the specific thing I want on a shelf. A standard Keaton Batman gives you the cowl and the cape. This one gives you the moment the costume stops working, and in a Tim Burton Batman movie that moment is the whole point: the man under the suit is the story.

The broken cowl is also a display problem, in a good way. You can pose him with the damaged mask on, or bare faced holding the pieces. That gives one figure two looks without buying a second release, which is the most useful thing a $34.99 deluxe can do.

Who should buy which

• Keaton completists: get the Unmasked Batman. It is the only one of the three that adds a scene rather than a costume.
• 1990s movie roster builders: Batgirl is the gap filler. DC Collectors calls her a notable gap for anyone building a 1990s Bat family lineup.
• The Penguin fans: grab Oz if you want a weapon heavy display. If you want a Gotham crime family diorama, this is the anchor figure.
• Casual buyers on a budget: one figure, not three. At $34.99 each, the full set is just over $100 before shipping and tax.
• Anyone waiting on Mattel: you are waiting on a launch date and nothing else. Toy Habits notes Mattel has not shown a single figure yet.

Batgirl and the 1997 question

Batman & Robin is not a movie people usually collect for. It is a movie people collect around. The Silverstone Batgirl exists because collectors who own the rest of the 1990s run want the lineup to read left to right without a hole. I understand that impulse completely. I just do not think this is the figure to buy first unless the hole is already bugging you. That film also keeps coming up for other reasons this month, since Uma Thurman's 1997 Poison Ivy was the obvious reference point when I looked at HBO's early Poison Ivy series.

Oz is the modern pick

The Penguin figure is the only one tied to something currently shaping DC's screen plans. Farrell's Oz has moved from a supporting role in The Batman to his own HBO series, and toys have followed, including LEGO's 2027 Batman sets that give the Penguin a ride. If you only buy modern DC, this is your figure from the wave. Four weapons and one extra hand is a strange accessory split, but it suits a character who solves problems by pointing things at them.

My take

A license ending tends to make collectors buy with their nerves instead of their eyes. Do the opposite. Pick the figure that adds something you cannot get elsewhere. For me that is the unmasked Keaton, because the broken cowl turns a well known costume into a specific, sad, very Burton moment. The other two are fine. One is a gap filler and one is a TV tie in. Only one of them is a scene.

How we made this: researched and drafted with AI assistance. Sources are linked in the piece.