http://www.joystiq.com/2006/08/25/penny-arcade-presents-penny-arcade-game-starring-penny-arcade
I would laugh if they became the thing that they hate the most: A crappy cash-in game.
There was an older fan made one in the past.
Yup, they're making one.
http://www.penny-arcade.com/2006/08/30
Info in the second news post.