First, when the project was initially announced by Deadline in 2018, Guillermo told the outlet he had two specific references in mind: the original fairy tale by Carlo Collodi, and the illustrations of Gris Grimly, whose work is featured in a 2002 edition of the original story.

Additionally, Guillermo decided to set the story in 1930s Italy during Benito Mussolini's rise to power, creating a "collision" between innocence and the turbulent, oppressive political environment. This is not his first film to juxtapose the two ideas, as Pan's Labyrinth is set in 1944 Spain.

In a statement at the time, Guillermo described the story of Pinocchio as "personal."

He said, "No art form has influenced my life and my work more than animation and no single character in history has had as deep of a personal connection to me as Pinocchio. In our story, Pinocchio is an innocent soul with an uncaring father who gets lost in a world he cannot comprehend. He embarks on an extraordinary journey that leaves him with a deep understanding of his father and the real world."

Speaking to The Hollywood Reporter, the time period Guillermo and co-writer Patrick McHale chose is intended to also reflect the rise in modern authoritarianism. He says, "I was hoping to talk about things that were very important for me and that would reflect today. One of the things that I cherish as a virtue is disobedience."

Guillermo added, "I thought that the idea of Pinocchio behaving as a free agent and a disobedient soul in a time when obedience is expected of everyone would be very important, especially in a moment like now."