But as a few may know, MOB Entertainment just dropped a new video I will link above that gives us some interesting information...

So, first of all, around 10:27pm on 6/18/92 (June 18th, 1992, conveniently the same year as MLL was created) an experiment by the number 1170 had escaped the factory.

We know from previous tapes in Chapter 2 of PPT that Experiment 1170 is Huggy Wuggy.

It is revealed there that Huggy Wuggy is referred to with the pronouns 'he/him' as well as 'it', suggesting that Huggy Wuggy may be a sentient being.

Of course, with Huggy Wuggy being blue and the main mascot of Playtime Co., 'he' could be just a referral to a possession, the same way that boat captains refer to their ships as 'she'.

And from Huggy Wuggy bleeding when he fell in Chapter 1, to even more recent evidence of Huggy Wuggy actually having a digestive track and getting hungry, we already knew he was at some sort of form of life, maybe to language-restricted sentience.

In the video, Huggy Wuggy, after escaping, flees into the woods at 10:38pm, though not after aggravated assault and possible murder, and getting hit in the leg with a tranquilizer. 

There it is explained that the search for the missing toy factory's mascot is spread across 4 square miles, into residential areas, and lasting until at least 3:38am, when Huggy Wuggy is finally relocated and captured.

We are shown an array of 11 people, where 5 are confirmed to be dead, and another 6 being missing, presumed killed by the mascot.

We also see a carcass of a deer that looks to have been wounded before succumbing, and the viewers can assume that Huggy Wuggy killed the buck, but from our point of view, there are no signs of him eating it or anything, leading me to believe that he killed it just for sport.

Maybe this means that Huggy Wuggy has a refined taste reserved only for human flesh?

After that, we are shown a letter, to a person that is cut off of view from us, that states that somehow Huggy Wuggy accessed the ventilation system without alerting the factory's security at all, and that the Innovation department is not happy, nor is Leith Pierre, the writer of this letter.

After that we are just shown this rather creepy footage of Huggy Wuggy standing outside of somebody's house at exactly 3:38pm, the same time that [supposedly] he was captured and restrained, before the video abruptly cuts short.

I didn't want to make a random theory about this, because while this does give us some lore and context, it only puts about three pieces of this massive PPT puzzle together.

I might go as far as to stretch and say that this might mean that Huggy Wuggy will return for Chapter 3 of PPT, because that seems to be not totally out of the blue, considering what MOB Games does.

But on another note, I will address that maybe that's my own personal bias. Huggy Wuggy is not just the mascot of Playtime Co.; he's the mascot of PPT as a game, and, as a fellow theorist of PPT mentioned, "it would be... Anticlimactic to introduce this lovable blue Cookie Monster as the face of this horror game, and then kill him off in the first 30 minutes of the game, never to be brought up again."

It would've been weird of me to know that this huge lore bomb existed, and not to address it.

Summing it up is all I wanted to do for now, but I do hope this has something to do in relation to the long-awaited Chapter 3.