“Pee-wee’s Big Holiday,” the third film from Pee-wee Herman and the first to be produced by Judd Apatow, is heading exclusively to Netflix.

A news release from Netflix describes the film thusly: “A fateful meeting with a mysterious stranger inspires Pee-wee Herman to take his first-ever holiday in this epic story of friendship and destiny.”

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Apatow will coproduce the film with star Paul Reubens, who wrote it with Paul Rust (Fox's “Arrested Development”). The first-time director is John Lee, of Comedy Central's “Broad City.”

The Netflix move seems like a natural fit for Pee-wee, the hyperactive, bow-tied alter-ego of Reubens, 62. Though he made a splash with his 1985 debut film, “Pee-wee's Big Adventure” (the first feature directed by Tim Burton, and co-written with Phil Hartman), the comedian found his most enduring success on the small screen with his long-running children's show, “Pee-wee's Playhouse.”

A 1988 follow-up film, “Big Top Pee-wee,” was a commercial and critical flop, and Reubens put his character on hold after a 1991 arrest in a pornographic movie theater in Florida.

For Netflix, the Pee-wee film is a smaller-scale repeat of its groundbreaking deal with Adam Sandler, who is producing four movie exclusively for Netflix.

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“Judd and I dreamt up this movie four years ago,” Pee-wee said in the Netflix news release. “The world was much different back then -- Netflix was waiting by the mailbox for red envelopes to arrive. I’ve changed all that. The future is here. Get used to it. Bow tie is the new black.”