Will Ferrell was spotted in Florida this week sporting quite the unusual facial hair - an enormous, bushy mustache tinged with hints of grey.

The actor and his new mustache were spotted in Miami Beach, Fla., at an event called Art Basel, which is billed as a "premier art show for modern and contemporary works," according to a report from TMZ.

The actor wore a bright green soccer jersey in support of Ireland and drank beer while he enjoyed the art show and mingled with friends. He topped off his look with a green trucker hat and, of course, the attention grabbing facial hair.

CLICK HERE to check out photos of Ferrell's enormous mustache in Miami Beach this week.

The unusual look has sparked speculation across the Internet that Ferrell is preparing to yet again become the now iconic Ron Burgundy, the character he made famous in the 2004 comedy film "Anchorman: The Legend of Ron Burgundy."

Ferrell has already confirmed that "Anchorman 2" will in fact become a reality, and he gave fans a small taste of what they might expect in the upcoming sequel.

"We are going to focus on and comment on the transition from what was kind of traditional news to where entertainment forces started melding in, and Ron's going to be one of the catalysts of that," Ferrell said.

The actor and comedian told ABC News in an interview that his Ron Burgundy mustache attracts a great deal of attention on the street, but he's always surprised by the kinds of questions people ask about it.

"I'm surprised by how many people have walked up to me and asked, 'Is that mustache real?' Of course. I say, 'Yes, why would I be wearing a fake mustache?' I mean, why would I be walking around wearing a fake mustache?" he said.

Though not much else is known as of yet regarding "Anchorman 2," a new report claimed this week that "Saturday Night Live" alum Kristen Wiig is in talks to join the film as a love interest for Steve Carell's character Brick Tamland.