Arnold Schwarzenegger's next film -- The actor is contemplating a few projects, including ''The Last Action Hero''

By Pat H. Broeske and Anne Thompson
Updated July 24, 1992 at 04:00 AM EDT

Latest update on the Arnold watch: He’s about to pick his next movie. A year after the release of blockbusting Terminator 2, there’s little question that Arnold Schwarzenegger, like the 800-pound gorilla, can make any damn film he wants — even if his asking price is said to be a cool $20 million — because his last four films grossed $524 million domestically. But he has to make up his mind in the next few weeks if he’s going to field an entry in the 1993 sweepstakes. So, as a raft of screenwriters rush to complete tailor-made rewrites for him, and tout Hollywood awaits his decision, here are Arnie’s wildly varied top prospects:

Sweet Tooth, an action comedy about a U.S. Marine who finds out at his father’s deathbed that he’s inheriting the family legacy — the job of tooth fairy.

The Last Action Hero, from the script about a young boy who jumps onto the screen (à la Buster Keaton’s Sherlock, Jr.) to join his cinema hero; John McTiernan (Die Hard) will direct.

The $2 Million Tip, a comedy about a cop who, to the consternation of his nagging wife, tips a waitress with half a (winning) lottery ticket.

Or, in the most radical departure of all, Arnold could play Sigmund Freud to Woody Allen’s Carl Jung in a to-be-titled TriStar tale of bumbling shrink detectives.