Squid Game fans will be left reeling when they wrap up the finale of season three, which dropped on Netflix on Friday following the nail-biting second series. 

The final season has been hailed as 'harrowing and heartbreaking' by critics - with an ending 'so jaw-dropping it beggars belief'.

And now rumours of a US spin-off of the global phenomenon have kicked into high gear as an Australian A-lister makes a shock cameo in the highly anticipated finale.

Cate Blanchett appeared in the final seconds of the last episode, stunning viewers in a mic drop moment and adding fuel to speculation of an English-language spin-off. 

The Oscar-winning actor, 56, was garbed in a black suit as she played the paper-flipping game ddakji with a down-on-his luck man in a Los Angeles back alley.

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The scene is a callback to the very first episode of Squid Game where an impoverished Seong Gi-hun also plays a game of ddakji with a man in a suit.

It is here Gi-hun first receives a contact to call to enter the brutal and bloody Squid Game.  

While no confirmation has yet emerged for a spin-off series set in America, rumours suggest it may be helmed by legendary director David Fincher. 

Squid Game writer and director Hwang Dong-hyuk recently told the Guardian he has heard no confirmation of the spin-off, but would welcome Fincher's involvement.  

Squid Game quickly became a global phenomenon after the very first season premiered on Netflix back in 2021.

While fans had to wait three years for the second season, the third and final season hit screens on Friday, June 27 as they were filmed back-to-back.

Squid Game season three has been praised by critics and received some raving reviews for its thrilling tale, which scored a whopping 88 per cent on Rotten Tomatoes.

Metro rated the show 4.5 out of five stars and gushed how the ending made their 'jaw drop' and describing the season as 'darn near-perfect'.

While the Guardian rated a more average three out of five stars, it raved the ending was so surprising it is 'entirely beggars belief'.

Gizmodo dubbed the season 'harrowing' and 'heartbreaking', noting Squid Game ends 'this vicious final chapter in a memorable, very terminal way'.

However, it noted there also seems to be a 'tease for more to come' at the end.

Meanwhile, Indie Wire praised director Dong-hyuk's 'unflinching vision that carries Squid Game over the finish line'.

However, not everyone was so impressed, as the Hollywood Reporter dubbed the ending 'unsatisfying'.

Fans have already shared their verdicts online and one penned on Rotten Tomatoes: 'So far so good, just watched the first episode! 

'I’m still deeply connected to all the characters and can’t wait to see what happens next. Will update my review as I keep watching.'

Another added: 'The suspenseful directing, story, music, and emotional acting by the actors were all great, and the ending was also excellent. 

'It was so fun that I regret not seeing it again.'

'Had me on edge throughout. Final game was epic, couldn't guess what was gonna happen. Love! Heartbreaking but an apt ending,' someone else said.

Though it didn't escape criticism and one viewer penned: 'Rushed season, lackluster writing, horrible ending. 

'This season was so anticipated and the tools were there for a really good season, but went completely off the rails.

'The character building, suspense, and drama brought people back. All you’re left with at the end of season 3 is people who you don’t recognise. Do better Netflix.'

Squid Game writer and director Dong-hyuk previously revealed the real reason why the season has been split into two parts.

Speaking exclusively to MailOnline at the Squid Game season three premiere, Dong-hyuk, 54, said: 'I originally didn't plan for it to be split into two seasons.

'I was thinking that it'd be a single one, but in the process of writing it, it came out to about 13 episodes, which I thought was too long to put out as a single season.

'And I also thought it was too long when you look at current trends.

'So I thought that we wanted to split it, and if we were to split it, at the end of episode seven, when Seong Gi-hun hits rock bottom after his rebellion failed...

'I thought that was the just the right moment to sort of dividing into two chapters.'

All seasons of Squid Game are available to stream exclusively on Netflix.