Ever since Ben Stiller and Owen Wilson announced that Zoolander 2 was happening by walking the Valentino runway at Paris Fashion Week as their alter ego's Derek and Hansel, everyone's been getting their knickers in a twist in excitement for the sequel to the 2001 cult classic. Now, the trailer is FINALLY here, and it was worth the wait. Check it out above.

Justin Bieber's dying Instagram, Kristen Wiig's purple headpiece, and Benedict Cumberbatch as All?! This trailer has too many amazing moments to mention - including a look at crazed fashion designer Mugatu's new look (think tattoos, and lots of them). The latest A-lister to give us a sneak peek at her involvement in the fashion film of the decade? Cara Delevingne - and she's not taking the competition lying down. Check out the video below... 


It's a #WalkOff @zoolander

A video posted by Cara Delevingne (@caradelevingne) on


We'd put money on this Instagram confirming Katy Perry's role in the film, too...


FASHUN WILL HAPPUN 2.12.16. @Zoolander #Zoolander2

A video posted by KATY PERRY (@katyperry) on


Katy did take a little time out from her world tour to film a non-specific "cameo in a movie", right around the time Zoolander was being shot...

As well as K-Pez, Penelope Cruz, Usher, Demi Lovato and more will join Ben Stiller and Owen Wilson, as they reprise their roles as Derek and Hansel and make a return to modelling over ten years on. Unlucky for them, an opposing company is attempting to take them out of the business. Cue much blue steeling as the pair attempt to thwart evil plans (Will Ferrell's back as Mugatu, who we suspect might be behind them).

Filming has now completed and there's only a single month left to wait until the film is released in February, but it's been a long, long wait. Ben Stiller aka Zoolander himself has been treating us to teaser trailers and behind-the-scenes snaps on his Instagram page.

As well as the side-splitting clip, here's what we know so far about the Zoolander sequel:

Mugatu is back
Just as we suspected, Will Ferrell has reprised his role as the crazed fashion designer, Mugatu. The actor was spotted in a rather fetching blue jumpsuit with Mugatu's signature snowy white peaks of hair on set last week, and we can't wait to see what evil genius he's going to being to the film.

Justin Bieber will be making an appearance
Justin Bieber landed himself a part in the movie, as this Instagram post by Ben Stiller hinted at. And with matching spiky hair dos and blue steel stares, we reckon the Bieber has been taking some tips from Derek. The question is, will the young pop star be able to stop taking himself so seriously? Because if he can't, this performance will fall seriously flat.


#Zoolander2 @justinbieber

A photo posted by Ben Stiller (@benstiller) on


It will star Penelope Cruz
After much speculation, Ben Stiller confirmed that Penelope will have a leading role in the movie. How? By posting a picture of Ms Cruz as a frizzy-haired teenager on Instagram. My, how people change… (How he came into possession of such a photo, we're not sure).


Excited to announce Penelope "Little Penny" Cruz has joined #Zoolander2 cast! #fbf

A photo posted by Ben Stiller (@benstiller) on

Billy Zane is making a comeback
In the 2001 original, Titanic star Billy Zane was the subject of a running joke between Derek and Hansel. And now he's actually going to be in the movie… as himself. Albeit in a dodgy-looking blonde wig.


Hansel has some #Zoolander2 news about @billyzane

A video posted by Ben Stiller (@benstiller) on

Kim and Kanye will have a cameo
Despite the fact that Stiller still refuses to confirm it, we know it to be true. How could they not?

Derek has a son now
It's over ten years since the original, and Derek has fathered a child. He's called Derek Jr. Played by newcomer Cyrus Arnold, something tells us he's going to be put on the map after this role.


Meet @cyrusarnold. Son of Derek. #Zoolander2

A photo posted by Ben Stiller (@benstiller) on

It's written by Jennifer Aniston's fiance, Justin Theroux
Justin appeared as the Evil DJ in the first Zoolander movie, and counts US sitcom Parks and Recreation and Your Highness amongst his acting credits. Plus he wrote Tropic Thunder, so we reckon we're in good hands.

Karlie Kloss and co are rumoured to be taking the runway
You couldn't have Zoolander 2 without some real models in it, and so far Karlie and Cara Delevingne are the favourites to represent the real life fashion industry.