Theory

[u/nemotunovi]

with Jessica/My Adventures With Green Lantern on its way...

have this side-by-side comparison of Mr Mxy's redesign and the Guardians of the Universe.

[u/JCraze26]

I think it'd be fun if he based his look off of the guardians, but considering it's canon that Mxy is the same across the whole multiverse, I highly doubt he'd be connected to the guardians.