Todd Phillips reveals Joker 2 has started production and shares first look at Joaquin Phoenix

The Joker is officially back with new on-set photos shared by director Todd Phillips confirming that the long-awaited follow up film is now officially in production.

Phillips shared the cheeky teaser to Instagram, showing off Joaquin Phoenix's iconic character Arthur Fleck laid back in what appears to be a barber's chair having his face shaved.

Fleck, also known as the Joker, appears dirty, emaciated and shirtless with his face covered in foam.

Phillips shared the image of an unidentified man with a razor to the Joker's neck with the caption: "Day 1. Our boy. #joker."

Lady Gaga is tipped to play Harley Quinn in the follow up film, which is entitled Joker: Folie à Deux.

After showing off her acting abilities in A Star Is Born and House Of Gucci, Gaga will take on the iconic role of Quinn; a character typically depicted as the accomplice and lover of the Joker.

Folie à Deux is a French phrase meaning 'the shared madness of two', so it looks like we're in for a bumpy ride.

Producers have remained tight-lipped about the film, but it is said to be a musical.

So perhaps an extra bumpy ride because that feels a bit left field. But, considering Fleck's iconic dance scene at the end of the first film, it could work out perfectly. Who knows?

In the comics, Joker and Quinn meet at the Arkham Asylum, where Harley acts as the villain's psychotherapist.

She soon becomes entranced by the prisoner and joins him on his quest for madness and mayhem.

At the end of Joker, we saw Arthur Fleck (Phoenix) inside Arkham State Hospital before he makes his daring escape.

So perhaps he is getting ready to meet Quinn for the first time?

Only time will tell.

Brendan Gleeson, Zazie Beetz, and Catherine Keener are all also expected to appear in the sequel.

The follow-up to Phillips' incredible first take on DC Comics’ nefarious character is scheduled to hit theatres in 2024.

According to Variety the second movie will cost roughly $150 million ($AUD 211 million, £87.3 million) to produce.

Joaquin Phoenix and director Todd Phillips are believed to be getting $20 million ($AUD 28.1 million, £11.6 million) paydays, with Lady Gaga set to receive $10 million ($AUD 14 million, £5.8 million).

The big name salaries are 'combined with the cost of producing complicated musical sequences' for the film.

The next instalment of the Joker's tale is set to be released October 4, 2024.