Sly 3: Honor Among Thieves was initially developed by Sucker Punch Productions and released on the PlayStation 2. This was the first installment of Sly where you could play as other characters outside of the original Cooper Gang. Other characters include: Dimitri, Murray's mentor- Guru, Panda King, and even Carmelita Fox.

This game was unique for many reasons, but one that stood out the most was the fact that the game came with 3D glasses, as there were various levels and scenes that the player could choose to view in 3D mode.

Sly 3 is centered around the Cooper Vault, a sacred place where Coopers Ancestors stored their wealth and treasures. This vault has never been accessed by anyone who wasn't a Cooper. However, Dr. M, the main villain of the game, is looking to change that. Dr. M sets up shop at the Cooper Vault and runs a fortress of protection while he tirelessly tries to break into the Cooper Vault.