Laugh if you must, but I really am going to vote for Pedro.
Heretics will introduce other names into nomination at the convention in 2012, but Obama will not be seriously challenged.
I don't know what the Republicans will nominate. I assume it will be human, but you never know.
There will be numerous unserious third-party candidates such as Polly Zucchini of the Vegetarian Party, Earnest A. Radical of the Pizza Freedom Party, Nodum Sane of the Greens, and of course the ever-unpopular Lyndon LaDouche, etc.
However, on my absentee mail-in paper ballot, there will be space for write-ins, and I plan to write in a single name for President of the U.S.: "Pedro."
UPDATE: I voted for Jill Stein (Green) for prez in 2012, & for Pedro in the WA Senate race, since I could not bring myself to vote for party hack Patty Murray.