What will Terry Gilliam do next?

Four years since his last movie “Fear and Loathing in Las Vegas,” and two years since “The Man Who Killed Don Quixote” collapsed six days into shooting, that question is edging closer to one of three different answers.

The most likely is “The Blue Ribbon Operation,” a heist caper that Imagemovers is developing with DreamWorks. Dustin Hoffman and John Cusack are attached; script is by Bill Wheeler. The producers are tinkering to bring down the budget.

Alternatively, there’s “Brothers Grimm,” which Mosaic’s Charles Roven is developing with MGM, in the hope of shooting next spring. This much-bigger-budget project, scripted by Ehren Kruger, is a fantastical action-adventure that casts the 19th-century folklorist siblings as roving fighters against enchanted creatures.

The dark horse remains “Tidelands,” which Brit producer Jeremy Thomas is trying to set up. It’s adapted by Gilliam and Tony Grisoni from Mitch Cullin’s novel about a Texan girl who escapes from her harsh reality into her imagination.

“Times are very tough for this kind of independent movie, but I’ve got a brilliant script, and I intend to pull a rabbit out of the hat,” Thomas promises.

Definitely out of the running are “Scaramouche” and “Good Omens.”

Gilliam never concluded talks to board “Scaramouche,” a French Revolution project that David Heyman is prepping with Warner. “Good Omens,” another Roven project, co-written by Gilliam and Grisoni, is in limbo after a script rewrite by Grisoni did not find favor with Gilliam.