Where I live (In the United States) it's called Lion King 1 1\2, but in other parts of the world it's called Lion King 3: Hakuna Matata. But there's a gag at the opening of the film (and trailer) about Timon changing the title from Lion King III to II (Then he's reminded by Pumbaa there's already been a II) and changes it to 1 1\2.
Do they cut that in Non American versions of the DVD?