The new movie, called Gake no ue no Ponyo (Ponyo on a Cliff), was written by Miyazaki himself and is the story of a little boy called Sosuke and a goldfish princess named Ponyo who wants to become human. The sketch above is of Ponyo, with Sosuke's hand holding her bowl. Apparently the character Sosuke will be based on childhood photographs of Miyazaki's son, Goro
First Image from New Miyazaki Anime Film – Table Of Malcontents