"Honey, We Shrunk Ourselves" is a direct-to-video sequel to "Honey, I Shrunk the Kids" and "Honey, I Blew Up the Kid" that was released in 1997. It is the franchise's last installment. Dean Cundey's directorial debut. It tells the story of the "crazy" inventor Wayne Szalinski, who accidentally shrinks himself, his wife, Diane, brother, Gordon, and sister-in-law, Patti, with his Szalinski's Shrinking Machine.
Rick Moranis reprises his role as Wayne Szalinski, and he is the only member of the cast from the previous films. Eve Gordon takes the place of Marcia Strassman as Diane Szalinski. Wayne's extended family is featured in this film, including his brother Gordon Szalinski and sister-in-law Patti Szalinski. In a twist on the first film, where the kids had to entice their parents' attention, this time it's the other way around.

The Disney Channel picked up a show focused on the Szalinskis' problems called ''Honey, I Shrunk the Kids: The TV Show'' only a few months after the film was released. Wayne was played by Peter Scolari. This was the franchise's last incarnation.

Moranis' final live-action appearance before retiring from acting was in this film.