Keep reading for a closer look at Eleven, Mike, Hopper, and the new danger threatening Hawkins.
The trailer opens with Dustin alone in his room, freshly returned from a summer camp.
He seems to be bummed no one is there to greet him, but little does he know that his friends are pranking him.
Mike, Will, Lucas, Max, are hiding while Eleven uses her powers to make Dustin's electronic toys move.
When Dustin is (rightfully) scared out of his mind, he turns and hits Lucas full in the face with Farrah Fawcett hair spray.
Last season, Steve Harrington helped out Dustin by telling him his secret to great hair: Four puffs of Farrah Fawcett hair spray.
Looks like Dustin is still keeping up with this hair care routine, even a year later.
After the group calms down, they head to a hill in order to erect what looks like a homemade satellite tower.
The young friends on "Stranger Things" have always relied heavily on radio communication for their adventures. This new tower might be a way for them to get a stronger signal across town.
We know the first episode of the season is called "Suzie, do you copy?" so this ties in well
Though the friends are temporarily united, it looks like Dustin will be left feeling lonely again.
On season two, the new girl in town Max created a bit of a crush-triangle with Lucas and Dustin.
It looks like Max and Lucas are officially a thing, and Dustin is left feeling like a third wheel.
The whole friend group is transitioning out of their childhood.
"We're not kids anymore," Mike says. "I mean what did you think? We're just gonna sit in my basement all day and play games for the rest of our lives?"
The crew is now entering high school and their teenage years. The Who's 1971 single "Baba O'Riley" was remixed for the trailer the chorus of which croons about "teenage wasteland."
Eleven and Max have a blossoming friendship.
In one shot, you can see them playing dress-up in full '80s glam.
They also visit the Starcourt Mall, a snazzy new hangout spot in Hawkins.
Steve is working at an ice cream shop called Scoops Ahoy inside the mall.
This means Steve is wearing a sailors outfit for the season's big fight scene. No complaints here.
Local Hawkins residents are protesting the mall, though.
One man in the back is holding a sign that says: "The pretzels aren't even that good."
A new character for the season is Mayor Kline, played by iconic actor Cary Elwes.
As we've noted with previous teasers, it's very likely that the Russian spy subplot from the first season comes back this year. If there's a political angle to the new season, it's possible Mayor Kline is in the middle of it.
Mayor Kline is responsible for the "Fun Fair" we see in the trailer
This fair is probably taking place around the Fourth of July, hence the premiere date for the new season.
The fair is the backdrop for a series of shots with Hopper looking mightily concerned and in a chase of sorts.
He has a head wound, and seems to be running from someone (or something).
He might have started his night with a pleasant date.
He's wearing that same shirt seen in the fair scenes underneath his dinner jacket. But who is he waiting for?
Joyce is shown at home on the couch, which makes it look like Hopper isnt expecting her for dinner.
Joyce and Hoper have been vibing on the earlier seasons, but whether or not they actually start dating is to be seen.
Back in the fair, a man with a gun walks through a funhouse mirror room.
This is probably the person Hopper is squaring off with at the fair.
That same man is in another shot of the trailer with a different gun.
He could be one of the Russian spies we suspect will appear on the new season.
It looks like Hopper turns the tables on the mystery man.
Hopefully Hopper gets more of his Indiana Jones-style heroics on the new season.
Guess who else is at the fair? Its Murray, our favorite "Stranger Things" conspiracy theorist.
Murray had a starring role last season when Nancy and Jonathan turned to him for help, and all of his theories about Hawkins Lab and Eleven turned out to be mostly true.
Meanwhile, Billy is a lifeguard at the local pool.
Another episode this season is titled "The Case of the Missing Lifeguard" does that refer to Billy?
Mrs. Wheeler (Mikes mom) is still giving Billy some rather age-inappropriate glances.
At the end of the last season, Billy showed up to the Wheeler house unannounced and Mike's mom seemed a little too interested in the high schooler.
But Billy has bigger problems. In this scene, hes looking concernedly at a mark on his arm.
It appears that Billy will be bitten by ... something.
One of the episodes this season is titled "The Bite."
We're betting this is that ominous mark the title refers to.
This looks like Billys eye, and there are strange dark veins on the whites of his eye.
If we had to guess, we'd say this has something to do with the Mind Flayer.
Eleven may have sealed the Mind Flayer's gate into Hawkins, but as the final shot of season two showed, it's still out there and watching. This supernatural looking infestation might be the work of the Mind Flayer.
Other Hawkins residents appear to be infected.
This brief shot of two dead-eyed looking women is reminiscent of a zombie-like spread.
The infestation could also explain why some scenes appear to be taking place in a hospital.
Many of the backgrounds shown in the trailer look like they're in hospital hallways.
Most importantly, the new monster seems to grow inside a hospital corridor.
This new terrifying creature seemed to grow new limbs as Jonathan and Nancy watched in the hallway.
Jonathan is on one side of the beast.
Why are all the lights off? Where are the rest of the people?
While Nancy is on the other side of the hallway, watching the monster take its form.
Is this new monster what people turn into if they're "bitten" and it goes untreated? Or is it a new creature from the Upside Down?
Earlier in the trailer, Nancy and Jonathan were looking nervous at a newspaper office.
Are they there for job interviews? Or is another story about the terrors in Hawkins being published?
At another point in the trailer, we see a machine erupting with an electric force, and limbs that remind us of the Mind Flayer.
Perhaps this is related to Hawkins Lab experiments, or maybe it's a new location altogether.
The men in masks are being roasted by the bolts of electricity.
The coloring and pattern of the wounds is again similar to what we saw from the Mind Flayer inside Hawkins Lab last season, so this could be connected to the "gate."
Then theres a shot of this menacing man, a new character named Bruce.
As reported by Variety , Bruce is a "journalist for the The Hawkins Post, with questionable morals and a sick sense of humor."
Right before we see Bruce, theres a shot of scurrying rats.
The rats were used when Netflix teased the trailer, posting a GIF on Twitter of rats running and saying "it's almost feeding time."
Do the rats feed on people? On monsters? Are they part of the spread of the infestation affecting Billy? Is that where the "bite" came from?
But now we need to talk about Eleven. Or should we say Jane?
She seems to be exploring new ways of using her powers.
Theres a concerning series of shots in her "void," where things dont seem to be going well.
We see her falling onto the ground as a bathtub vanishes.
In another shot, shes falling through the air.
She wears the same black and yellow shirt in several key parts of the trailer.
In this shot, it looks like shes drowning.
The drowning scene is mirrored in another shot of a mystery character ...
... this woman sinking down in water.
The woman appears to be wearing the same red lifeguard uniform we saw in Billy's pool scene. Could this be the "missing" lifeguard instead?
Its also possible Eleven finds new settings to travel to instead of her black void.
This shot of her on an empty beachcouldmean she's traveled to the edge of Indiana to Lake Michigan.
But we think it's a new space she's traveled to in her mind.
This is likely Eleven testing out a new method for her telepathy.
We know she can use her powers best in a sensory deprivation tank, but a cold fridge of Eggo waffles might be the next best thing.
The final season showdown will take place at the mall, where all of our favorite characters appear to team up.
Nancy and Jonathan are in different clothes, so this must be a different day from the hospital scene with the new monster.
We see Steves coworker, a new character named Robin, sliding down escalator banister.
Fighting a supernatural monster in a closed shopping mall? Rad.
At one point, Steve is going to be beat up again and then injected with something.
This might be a cure for whatever infection is spreading in Hawkins, or something more sinister. Steve certainly looks terrified, which is worrying.
Lucas sister Erica is back.
She was a fan favorite part of season two, so it looks like we're getting more action from Eric this time around.
Lucass wrist rocket is also back.
He tried (and failed) to use this on the Demogorgon on season one.
And Hawkins resident beacon for supernatural horror, Will, is looking concerned.
Will Byers has been through almost as much awful supernatural terror as Eleven, but he doesn't seem to be the focus of the season three trailer.
Will might have a hard time moving on from his younger years, given how much trauma hes been through.
The first poster for "Stranger Things 3" showed both Eleven and Will looking at a threat the others' didn't notice yet. It's likely he still has a role to play in the fight against the Mind Flayer and the war for Hawkins.
