It's highly possible that the group includes members from Foster The People or Ko Ko, though this is pure conjecture based on very few clues (again, the source). Their newly minted Facebook page gives no clues, save for a mysterious music video (which unfortunately comes up empty as well).
If any of my above guesses are in fact true, the styling of Sr. Sly represents a welcome departure from upbeat indie pop of FTP and Ko Ko. "Ghost," the first single to be released, is a slower, melancholy foray into the synth rock realm.
Bottom line is this band is trying to create some buzz based on "mystery," and we don't have the slightest idea who they are. Feel free to take your guesses...
EDIT: Columbia Records insists that no member from Foster The People is involved in the project.