It happened with Winnie the Pooh, and it'll probably happen with the next beloved children's character to enter the public domain. After (specifically the 1928 version of) Mickey Mouse entered the public domain on January 1st, indie game developers and filmmakers pulled the collective trigger on their hoards of low-budget projects cashing in on the name and likeness they can now legally use.
The most polished by far is a slasher film called Mickey's Mouse Trap, which will doubtlessly follow in the footsteps of Winnie the Pooh: Blood and Honey to become a forgotten curiosity on Shudder.
Still, the public domain is unequivocally a good thing. Make trashy movies to your heart's content!
