Basically the theory states that the E.T. aliens are part of the "Star Wars" galaxy because of their Easter Egg-y appearance in one of the senate sequences in "Star Wars: Episode II – Attack of the Clones." E.T., of course, many years later comes to Earth and befriends a young human named Elliot. When out for Halloween, E.T. sees a child dressed as Yoda and says "Home! Home!" In the movie it's a throwaway joke, but in this deeper understanding, maybe E.T. was recognizing Yoda, from his days in outer space. Later, when escaping police custody, E.T. causes Elliot's bike to fly, using some decidedly Force-like powers. What does this mean?
Say it with me folks:
E.T. IS A JEDI.
Now, if you stop and think about this, it doesn't make sense, for a number of reasons. First and foremost is that the E.T. appearance in "Star Wars: Episode II" was a gag designed by some very bored visual effects artists who were just having fun. Secondly, if E.T. really was a Jedi, chances are that he would have been wiped out with the rest of the order at the end of "Episode III," which led to Yoda being exiled on Dagobah and Obi-Wan taking shelter on Tattooine, in part to watch over young Luke Skywalker, an unsuspecting Jedi who would finally bring balance to the Force. Then there's the fact that Spielberg seems to be pretty staunchly averse to this kind of meta inter-mythology building but if quizzed about it would probably just defer to Lucas, as he did when being raked over the coals for "Indiana Jones and the Kingdom of the Crystal Skull."
So what do you think? Is this a plausible explanation for something you were never really wondering about in the first place? Or the idle madness that can only come from The Internet's ability to over-think, compartmentalize, and link vast sections of pop culture in a knotty, unnecessarily complex mesh of interlocking parts?