I just saw this mentioned in RPGnet's Microlite20 thread, I've downloaded and printed a copy. I looks like it has some great ideas and some really genre-appropriate art. Be warned: I thought the TOON version of D&D was great.
Announcing Dragoons20 RPG
"The Cartoon Steampunk Fantasy World of Scallywags and Scoundrels"
Visit http://www.hoppsbusch.com/dragoons20/ to download the PDFs for free.
Based on Microlite20 and adding new humorous mechanics, races, monsters and classes.