This was completed sometime back in early autumn, but only yesterday became known to the public at large: It's Attack on Cobra Island a fan-made GI Joe video game that shows a lot more effort and love than previous check-cashing G.I. Joe adaptations.
Attack on Cobra Island's first stage is shown above in this 10-minute video. It depicts a side-scroller throughout, with brawler combat followed by shooter. A player-select screen appears to give you your choice of Joes (briefly, at 1:04) but only General Hawk and Snake-Eyes are shown. The player chooses Snake-Eyes for the playthrough because, well, come on. It's Snake-Eyes.) Scarlett and Flash cameo during what appears to be a tutorial stage.
Download information can be found on the video's YouTube page. It's crude in some parts -- the Skyhawk versus the Trubble Bubbles (5:37) isn't a particularly strong graphical performance. But this is available for the low price of free and is plainly the labour of love by a GI. Joe fan, so let's give him some benefit of the doubt.
For me, the best touch in all of this is the music. Most every theme from the old Sunbow cartoon run in the 1980s can be heard in here, and the soundtrack is surprisingly well matched to the action or the cutscene being shown.
And check out that beginning! Cobra Commander just straight-up executes Breaker! (Or is it Rock N' Roll?)