Hobgoblins (1988)
Hobgoblins is a 1988 low-budget horror-comedy B-movie directed, written, and produced by Rick Sloane, who also served as cinematographer and editor. The film is often seen as a rip-off of Gremlins and earned infamy after it was shown on Mystery Science Theater 3000. It has since been often regarded as one of the worst films ever made.
More at Wikipedia.