Hoodwinked: Shrek meets Red Robin Hood

From the site:
An irreverent take on the classic story of Little Red Riding Hood where a karate-kicking Red, a sarcastic Wolf, an oafish Woodsman and a thrill-seeking Granny become allies in apprehending an evil 'cookie bandit'.

No, Shrek doesnt really meet Red, but it's in the same animation style as well as the irreverent humor. Looks like it'll be good for a laugh or two.