The cousins' new Channel 5 format will see them try their hand at a variety of different careers and tackle everyday challenges, just like Hilton and Nicole Richie in the US original.
Tasks set for Childs and Derbidge will include going deep-sea fishing in the Outer Hebrides, heading underground in a Welsh mine and experiencing life on an American ranch.
The pair were recently snapped working at a pizza chain for what was believed to be a new advertising campaign, though this has now apparently been identified as another Simple Life assignment.
Childs wrote when the images were published: "busy day today with @MrHarryDerbidge all I'm gonna say is we can't wait to tell you what were doing #allwillberevealvedsoon (sic)."
Derbidge, meanwhile, teased: "On way to the new project with @MissAmyChilds #allwillberevealved."
"The show will be just like The Simple Life but, dare I say it, even more ridiculous," a source told The Sun. "Amy and Harry are not exactly known for their ability to do everyday tasks so it's a car crash waiting to happen.
"In fairness, they are quite funny as a duo and bosses are hoping their daft chemistry will keep people entertained."
Childs denied rumours earlier this month that she was returning to TOWIE following the end of her Channel 5 solo project It's All About Amy.
> Amy Childs, Eamonn Holmes, Harry Hill lead TV Rich List - In pictures