The new female character, named Atoi -- which is cleverly Iota (the game's current protagonist) backwards -- means "to you" in French.
Of course, that makes a lot more sense when you know that the goal of Tearaway is to team up with this messenger (Iota or Atoi) and guide them throughout a papercraft world so that they can deliver a really a message to you, the player. It looks as though you'll be able to play as either of the two messengers and set other various options such as skin color for your virtual finger.
At the showcase, I also had an opportunity to go hands-on with Tearaway. You can read my preview here.