I've passionatley follow South Park since the begining and there a lot of similarities to that and this wonderful movie.
My favourite part is when they're describing the three types of people in the world. So much fun...
I also enjoy the fact that they don't bother trying to hide the strings and such, and when the puppets fight, they just bang them together.
Overall, best movie of the year!
(followed closely by Shaun of the Dead)