Here is a pretty funny fan-made picture of what Walt Disney's Lord of the Rings would look like.
In fact, there are plenty of rumors surrounding the fact that he did at one point own the rights to Tolkein's classic series of novels, but obviously never did anything with them. This was presumably due to their somewhat dark subject matter and the fact that it would have been very difficult for Disney to make them his usual "family-friendly" Disney film.
This fan-made mock-up features Merlin as Gandalf, Grumpy as Gimli, Peter Pan as Legolas and Pinocchio as Frodo. Very, very cool.
I wish that Walt had made a Lord of the Rings movie, even if he did cast it similar to the above photo...