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According to Time NewsFeed, the new Oreo has a mixture of green and red watermelon-flavored frosting that is sandwiched between two vanilla Oreo cookies.
Oreo spokesperson Kimberly Fontes described the decision: "We chose Watermelon because it is a fun, summer flavor that goes great with the Golden OREO cookie." So far reviews around the web seem to be more positive than those for Oreos recent candy corn variety.