Although Bill Skarsgård’s Pennywise was killed at the end of It: Chapter 2, that doesn’t mean It: Chapter 3 is off the table, nor that the killer clown is gone for good. There are a few ways in which Pennywise could come back. First, Pennywise exists in a larger Stephen King universe, and it turns out that his return has been hinted at in other King novels. In King’s book, “Dreamcatcher,” Pennywise’s survival after the Ritual of Chüd is hinted at via graffiti on a statue. In this way, Pennywise’s return might have already been set up by King.
Even if this isn’t the case, Pennywise is a villain who can defy the laws of physics and logic. Though the Losers Club believed that they killed Pennywise, the clown is a being that far exceeds the rules of nature. In fact, a whole part of his lore is that he disappears for several years before returning with a vengeance. Therefore, it would not be too out of pocket to see Pennywise return, perhaps after spending some extra time recuperating from the Ritual of Chüd. He could even return in a different form.
