Heck, there was going to be that "Mario Artist" thing for the N64DD, but I guess that only came out in Japan. A new one would be nice, but with how computer image editing has advanced (even MS Paint) and the prevalence of music-making games on (Nintendo) systems (the Korg synthesizer, Wii Music and song creation in GH:WT, Electroplankton...), it would probably just be redundant at this point.
On a somewhat similar note, I've always thought it was funny how the first game announced for the Wii was supposedly some Bob Ross painting game that never actually was released. Of course, that's happened before...