The Splatoon Splattershot toys are out now. I was a little confused at first, but there's actually two (kinda three) versions that were just released at the same time.
The best version is the one we've heard a lot about before - It comes in a open-windowed box, is 1:1 scale, shoots water and is pump action. It's a general release in stores.
Video:
https://www.instagram.com/p/BH8-DZEjYSF/The other version comes in a box with no window. It's smaller, is available in orange and in blue, shoots water but is just squeeze-trigger activated. It's pretty weak and unreliable. It's available in UFO catcher machines.
Video:
https://www.youtube.com/watch?v=qgAvVoKg5dsThey appear to use the exact same sculpt, just in different sizes. The trigger's the only other difference. The bigger version has a design-accurate trigger. The smaller version has a T-shaped trigger you find in a lot of cheap water pistols.
If you want one, make sure you pick up the correct version.