The late David Bowie eventually landed the role in the 1986 movie, but it appears there were many big names on his wish list.
Authors Paula M. Block and Terry Erdmann discovered the late Queen star, Stewart, David Lee Roth, Sting, Mick Jagger, and The Who frontman Roger Daltrey were all in the mix while researching their 30th anniversary tome Labyrinth: The Ultimate Visual History.
The new book features handwritten notes from Henson's archives and an interview with screenwriter Terry Jones, who admits Bowie's casting led to significant changes.
"He (Henson) went for David Bowie, and it all went away for about a year," he explains. "When the script came back, I didn't recognise any of it.
"Jim said, 'Can you do a bit more to it? David Bowie doesn't want to do it anymore because it wasn't funny anymore'."
The film, which also starred a young Jennifer Connelly, opened in June, 1986 to disappointing reviews and it flopped at the box office but later became a cult movie, becoming one of Bowie's most famous films.