In an interview that surfaced on ComingSoon.net, the action star said that he would "love" to appear in a follow-up to the 1988 Ivan Reitman-helmed comedy.
"I would love to do another Twins," he said. "As a matter of fact, we've been talking about doing one and it's called Triplets. I'd find somebody like Eddie Murphy or someone that people would say, 'How does that happen, medically speaking?' and, 'Physically, there's no way!'
"Then, somehow, we would explain it. That would be hilarious with what we know about someone like him."
Triplets was confirmed to be in the early stages of development last week, with Schwarzenegger, Murphy and Danny DeVito on board. The project is currently seeking writers.
Reitman will not return to the director's chair in any follow-up if it comes to fruition, and is instead producing the film through Montecito.
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Watch the original Twins trailer - starring Arnold Schwarzenegger and Danny DeVito - below: