The studio said it previously worked on contract work, which drove them to design a project as imaginative as possible that would be particularly memorable for players.
"We wanted to turn the frustration into some kind of energy," founder Camille Guermonprez told Digital Spy.
"The name Hell Yeah! [and] the kind of stuff that we made, was exactly the state of mind where [we thought], 'Why don't we go and make exactly the most bats**t crazy insane game we want to make, and the kind of game we'd love to play?'
"We want to make something completely crazy for people who's played loads of games, [people] who will say, 'Remember that one? We had fun'."
It was added that Hell Yeah! was inspired by elements from Super Nintendo platformers such as Tiny Tunes Adventures.
Arkedo Studio first worked on Nintendo DS games such as Big Bang Mini! and downloadable releases on Xbox Live Indie Games and PSN.
Announced earlier this year, Hell Yeah! stars a devil rabbit named Ash who must travel through hell to get revenge on his archenemy, Fat Rabbit, for posting his secret sex pictures on the internet.
Ash rides on a drill wheel that functions as both a vehicle and weapon for players, as it can climb walls, drill through barriers and slice enemies. A wide range of over-the-top weaponry will also be available, enabling feats of cartoonish violence as enemies explode into cuts of steak.
Hell Yeah! Wrath of the Dead Rabbit is out today (Wednesday, September 26) on Xbox Live Arcade, PSN and Steam.
Watch a gameplay trailer for Hell Yeah! below: