I applied via the Mattel website and wasn't expecting to hear back as quickly as I did. Two days later, I had an interview all set up as an art development intern.
I interviewed with their two main art directors and they were very nice people who had been in the industry for many years. The only thing they kept asking about however was process work. I had accidentally left a piece from my sketchbook in my portfolio and they kept going back to that even though I had work in there that had taken me hours and even days to finish (most of that was brushed to the side). So be prepared to bring a lot of process images if you truly want the job. They were far more interested in how you work than what you produce.