This is the best indie game I've played all year. Its sort of like Smash TV/Zelda 1/Roguelike/Insanity.
Its made by part of Team Meat. You can look up the plot pretty much anywhere, so I won't go into those details. I'll just say that I bought it when I was waiting for the Rage update, and it took over all of my attention. There are 100 different items, and they combine into different things. Random dungeon layouts, random monsters, pretty much random everything. This is usually the opposite of what I like, but it just works so well in this game. I've cleared it 5 times so far, and I've only uncovered about 3/4 of the items.
As far as the visual style/subject matter, I'm a little torn. The cutesy/sickening thing has been done before, but in this game it works very well. There's almost a sadness to the game, because while you get upgrades and stuff, your little character is actively becoming disfigured. Sometimes its very poignant, but then other times it resorts to poop and fart jokes. (You know I have nothing against those, but it makes the game feel slightly bi-polar.) I don't know what else to say, but for $5 you should all totally get this game. Its fucking great.
Oh yeah, and the soundtrack is amazing, too.