Earthbounded in a nutshell is almost like this: Elements Of Pokemon + Earthbound Stuff + Internet Culture = Earthbounded. It might sound like a bad game, but just HEAR me out. (WARNING: I'm not a brony) The mascot for the Dark version is Princess Luna and the mascot for the Light version is Princess Celestia. If anyone wants me to change the version names or mascots.
I will update from time-to-time during the game's development. There are two features: cozziekun's Earthboud-ish battle system and a caterpillar system. The music from various sources, with the sound effects and Earthbound OST from Starmen.net.
The plot is four people go on an adventure to destroy the mascot of the game and all while having put up with Red, your rival. You and your friends learn skills and PSI techniques. Before you face the mascot, you have defeat 4 other bosses in a Elite Four style. The two endings, the Good ending is if you defeat the mascot and the bad ending happens when you lose the final boss.
The main character is Scott. Scott decides to go on a little adventure around the Tubeyou region and learns that he has PSI power as he's told by Professor Bloke. Scott finds and befriend 3 people: Everett (A Pokemon Mimicker), Brenda (Female Psychic), and Elmer (Fighter). Then goes to Kill
Princess Luna/Princess Celestia (Depends on what version you're playing). This is the link to Beta Footage filmed by my flip:
http://www.youtube.com/watch?v=gjINJzdVICM&feature=channel_video_title (In advance, I'm for the thing at the end).
UPDATE 12/1/11:
http://www.youtube.com/watch?v=8_plqr7z9jM&feature=channel_video_title <--Video for New Pewter, which is the first town in the game.