Here's an actual Couples Snuggie in action.

And here's the Couples Snuggie at rest. It is as large as a couch and resembles a fleece elephant with that third armhole in the middle.

Academy Award Hosts Alec Baldwin and Steve Martin relax backstage in a Couples Snuggie while awaiting their next appearance on stage. They were likely screening Hurt Locker.

Actually, the Couples Snuggie, aka Snuggie for Two, aka Double Snuggie, has three arm holes and less material between the two people. This appears to be a hybrid they put together, and closely resembles a mini-snuggernaut.
I have recently received my first Double Snuggie submission, which I'll post soon so you can see the three arms, design, etc of the actual Couples Snuggie.

Snuggie for Two

Update: 2/11/2010 - It appears HSN has sold out of the Double Snuggie. It looks like you can get them at the Amazon Snuggie Store.

I monitor all things Snuggie via Google alerts and suddenly everyone is writing about a Couples Snuggie. Not to be confused with the Siamese Slanket. I am trying to get info on where this Double Snuggie is available.

Our first Public Service Announcement was such a success, we felt it was time for another.

WARNING: Do not try this at home.

There is a reason that the Snuggie opens in the back. Snuggies are so warm and cozy, if they were to close up the back, personages would be at risk of spontaneous combustion. In the above photo, Mark was literally playing with fire. What little body heat managed to escape the two Snuggies was trapped in his beard and the bill of his sweet lid.

So what have we learned today, kids? That there is one thing that you cannot do in a Snuggie. That one thing is called the Double Snuggie.

We are happy to report that Mark is doing well in rehab and the flash burns are healing nicely. He wishes to thank everyone for the cards, flowers, well wishes and that memorial fund, that although premature, has proved handy in paying off those pesky medical bills. Mark is the reason that the 2010 Physician's Desk Reference will have a new entry: Double Snuggie Heat Exhaustion.