This is the best news we've heard about the Hobbit trilogy yet: comedian Stephen Colbert is going to appear in either the second or third movie. 

The Hollywood Reporter's Kim Masters and Erin Carlson confirmed the rumor on Saturday. Colbert dropped a clue that he might appear in one of the Hobbit movies in a November interview with Playboy, of all places. It would make the most sense for Colbert's cameo to be as an elf considering he's fluent in elvish, something many of the other elves in the movie probably can't claim. We don't know what role Colbert's playing yet, though. He could be an elf, or a dwarf, or a hobbit, or something completely different. A wing-toed newt, even.

Playboy heard Colbert flew down to the set, and asked if he was only invited to watch. An unlikely prospect, though it could be seen as a nice gesture from director Peter Jackson to Colbert, a super fan of Tolkien's universe. When they asked if he appears in the movie, Colbert would only smile.