NEW PIC: Macaulay Culkin Looks Healthier, Introduces Art Project

Mac is back -- and he's looking just fine.

This past summer, Macaulay Culkin was once again the subject of rampant rumors about his supposed drug addiction and his shockingly gaunt appearance.

But in a new video, the Home Alone star, 32, looks healthy and eager to gab about his newest venture: Three Men and a Baby, an art collective formed with musician friends Adam Green and Toby Goodshank, from the folk-indie rock band the Moldy Peaches.

Sporting scruffy facial hair, Culkin (who was an attendee at pal Natalie Portman's Big Sur wedding last month) explains that he and his collaborators have been making wacky collage paintings -- including nude renderings of Jerry Seinfeld and Michael Richards! -- in his NYC apartment.

"We cleared out everything, laid down plastic and went a little nuts at the art supply store." Their first exhibition, called "Leisure Inferno," will be shown at NYC's Le Poisson Rouge Sept. 13.

What's the vision for "Leisure Inferno"? "The sillier and funner, the better," says Culkin, whose last acting job was the 2009 TV series Kings.