Briefly: Yes, there is a squirrel in Norse mythology and this is our first official look at his appearance in Hi-Rez Studios' god-battling MOBA. Yes, he fights with his nuts. Yes, I am going to be completely insufferable when his update comes out.
Behold Smite's Latest Combatant, The Norse Squirrel God Ratatoskr
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And it's very moist.
After Batman v Superman, Suicide Squad, and Justice League, all of which exist in the same universe, Shazam! looks like it's going to be a breath of fresh air for the DC Extended Universe. Very happy, very silly fresh air.