It's a game that plays on the current consoles. They have a 3ds version, but I don't know about the other hand held options.
It seems to have a couple different modes/aspects of gameplay, which seems a bit confusing, but in my mind this means the kids won't get bored as easily.
For gaming, I see two main styles. #1). Sky landers style with the action figures. You pick a figure that you want to play with and then place it on the portal/console and that character is automatically loaded in the game. If you pick a Cars character, then you play cars themed games. If you pick a different movie character, you play games associated with that movie. The games seem to vary. #2) free play style. If your kids like Minecraft or My Sims, then they will probably like this too. Not sure exactly, but it seems that when goals/achievement are made in the themed games, then features are unlocked in the sandbox play. basically, you'll be able to build custom worlds to play in, with stuff from the movies and real life theme parks, like Spaceship Earth. That's what sold me on it
For both of those gaming styles, get ready to spend a lot of money if you or your kids are collectors. You'll end up wanting to accumulate more figures as each figure brings along its own set of strengths and weaknesses. Then, there are the power discs, those add more features to a character, like stronger weapons and armor, but also goofy stuff for the toy box mode, like Mickey's car. There are 2 discs in a blind pack, and some discs are rare, so I'm sure there will be some trading going on with these. Kids will probably be getting a lot of these...
Hope that explanation helps. I haven't played the game, so it might not be 100% accurate, but from a parents perspective, that's the gist of it