Not much is known yet, besides the teaset tweet and 3 vague photos. It appears that this might be another toy/figurine project of some kind.
Find out more @ https://t.co/bRK1Y8wibX#newproject #comingsoon #BIGBANG #빅뱅 #20170102 #YG #미안하지만 #음원아님 pic.twitter.com/m1c1blqjHL
— YG Family (@ygent_official) January 1, 2017
Source: YG Entertainment Twitter & YG GO Blings Facebook page