Blake Lively's most recent Instagram post has fans thinking that she might just be the mysterious Lady Deadpool in the latest Deadpool & Wolverine film.

The actress shared a new photo featuring herself with husband Ryan Reynolds behind the scenes of the movie. After appearing in split-second flashed in several trailers, the most recent teaser unveiled Lady Deadpool in full — at least a full body look, blonde ponytail and a mask. Fans believe that she's the one in the suit.

 

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In the caption, Lively wrote, “Brb I’m buying milky pens to write your name on my hand @vancityreynolds.”

She continued, “My y2k girlies, I should be competitive bc @itendswithusmovie is coming out in 3 weeks BUT when your middle school obsessions, your feelings post baby, or about Nice men who use feminism as a tool, your love of the Wizard of Oz, Succession, Sandy & Danny, driving with Avril blasting, the way the choreography of a certain boy*band song got me, of Baz Luhrmann fireworks to punctuate a moment, even down to the fact that our hair color is determined by seasons and the French method by which it’s painted are all so seen… MY WORD… it’s hard not to encourage my ladies to spot all the ways we’ve influenced @deadpoolmovie I’ve never been more proud. And I’ve given birth 4 times.”

Is Blake Lively Lady Deadpool in Deadpool & Wolverine?

The actress listed a few millennial touchstones found in the trailer. This reinforces the belief fans have that Deadpool's wife herself is playing Deadpool. While it makes the most sense, Deadpool & Wolverine's marketing has been pretty much on point since the first movie was released. Lively could just be sharing a photo of herself and her husband and that's it. However, another thing that's also possible is that they're just trolling us.

Reynolds posted a TikTok video featuring his wife, listing said millennial touchstones in the video. In the video, the actress began by saying, “Tell me Deadpool's married to a millennial girl in real life without telling me.”

Avril Lavigne song? Check. Harry Potter reference? Sorting hat, check. Frozen quote? Do you want to build a snowman, check. Celine Dion? The singer's song for the Deadpool 2 soundtrack, check. Boyband? Deadpool dancing NSYNC's Bye Bye Bye, check. Sabrina the Teenage Witch namedrop? Check. My Little Pony? Check. Summer balayage? Check. Judy Blume? Are you there, God. It's me, Margaret, check. Meta humor mentioning millennials? Check.

Furthering the theory that it just might be Lively under the Lady Deadpool costume, the actor wrote in the caption, “My not so secret weapon.”

But then again, Reynolds himself has said that his favorite fan theory regarding Lady Deadpool's identity is that it's him… in a wig and high heels, which is something that's already happened in the first Deadpool movie released in 2016. But the actor has already debunked that theory, saying that his shoulders are way too broad and his hips could never move the way Lady Deadpool's did in the trailer.

From the already released trailers, we know that the Marvel movie features multiverses which allows cameos from other Marvel characters in different universes. We've seen Sabretooth, Pyro and X-23 from Fox's X-Men. The recent video clips have also shown us characters like Hunter B-15 from Lokiverse.

I don't think fans have let go of the theory that Taylor Swift will appear in a cameo either as Dazzler or Lady Deadpool, even with Marvel officially debunking this rumor. However, the actress who played X-23 in 2017's Logan, Dafne Keen, also said that she wasn't in the movie. Guess what? She appeared in the recent trailer as a variant of Wolverine, a younger version.

Keen credited Andrew Garfield for giving her advice on how to keep a Marvel secret. If you recall, the actor vehemently denied that he would be in 2021's Spider-Man: No Way Home in all of his interviews for more than a year until the movie was released. At this point, we can't be sure what's trolling or what's not. The only way to be sure is to wait until Deadpool & Wolverine is released in cinemas this weekend and see the movie for yourself.

Deadpool & Wolverine will hit the theaters Friday, July 26. In the US, showings will begin Thursday.