The playset, officially named Canterlot & Seaquestria Castle Playset, features a castle that is presumably going to be a part of the My Little Pony movie and is quite large (29"), with plenty of actions and accessories. With the Queen Novo and Spike figures included this set is going to be sold at MSRP $99.
Below is the full description Hasbro shared on Yahoo:
Fans can recreate adventures from the movie with Queen Novo and Spike the Pufferfish figures, and this 2-worlds-in-1, 29-inch playset. Place the figures on the slide or in the bubble-shaped elevator and have them ride from Canterlot [the capitol of the ponies’ homeland of Equestria] down to the kingdom of Seaquestria or on the dance floor and spin the light up tower. The figures can also fit on the spinning octopus ride. Kids can push a button to open the treasure chest and jellyfish chandelier to hide treasure inside. The set includes 30-plus accessories for bedtime, beach time, tea time, and more!
(Thanks to Chevistian for the heads-up!)