Tim Allen and the Toy Story 4 Cast Tell Wild Tales of Keanu Reeves’ New Character Duke Caboom

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Keanu Reeves’ Duke Caboom is set to raise eyebrows in Toy Story 4 – and the rest of the cast can’t help but relay the wildest rumors about the new character to the franchise.

Reeves’ Caboom, a daredevil motorcycle athlete with a perfect beard, is making his debut in the upcoming fourth installment, and PEOPLE has an exclusive clip all about the mysterious new toy.

“Get this, I heard he had his entire skeleton replaced with metal rods,” Tim Allen, the voice of Woody, says incredulously.

“My buddy saw him jump the Grand Canyon. Twice,” Keegan-Michael Key, who voices another new toy, adds.

RELATED: Toy Story 4: Meet Keanu Reeves’ Daredevil Toy in Latest Action-Packed Trailer

“Two different sources have told me that he only sleeps six hours a week,” an alarmed Tony Hale says.

“Some people say they’re just tall tales, but I believe,” Christina Hendricks admits.

But what does the man himself have to say about all the wild theories?

“Is it all true? I think you know the answer to that,” Reeves says.

Reeves is joining the franchise as a daredevil character who is friends with the returning Bo Peep.

“He’s the greatest stuntman in Canada!” Reeves previously told PEOPLE of his character. “Duke becomes an important part of [Woody and Bo’s] mission. They use his skills as a motorcycle daredevil, but what they ask him to do confronts his fear of failure. So he has to kind of face his fear in order to help the greater good.”

PEOPLE will be on the red carpet at the world premiere of Toy Story 4 on Tuesday. Watch the live stream on PeopleTV, PEOPLE and EW, and on all our social platforms, starting at 5 p.m. PT/8 p.m. ET.

Toy Story 4 – also featuring the voices of Tom Hanks and Joan Cusack – hits theaters June 21.