While it is becoming more and more unlikely that a new icon theme will be featured in Ubuntu 12.04 Precise Pangolin, DevianatArt user franksouza183 has begun working on an icon theme based on the rumored YellowIcon icons I wrote about earlier.
For now, only the main folder icons and some chat status are included. franksouza183 says more coming soon.
You can download the few icons here to take a look. I’m anxious to see the finished product.