I like bad movies. I mean REALLY .. BAD .. MOVIES .. bad :)
I have Meet the Feebles around here somewhere. This is an early Peter Jackson (yes, LotR Peter Jackson) and can best be described as The Muppet Show on acid. I have his Bad Taste too.
Another one I have, but haven't got to watching yet (friend borrowed it, only recently got it back) is The Dragon Lives Again, which has the following surreal plot
Following his untimely death, Bruce Lee (Bruce Leung Siu-lung) wakes up to find himself in the "Underworld." He meets the King of the Underworld and questions his power. The King demonstrates his displeasure by shaking a pole that can cause an earthquake through the Underworld. Bruce quickly ditches his cocky attitude and later becomes a bodyguard for the King.
Bruce then goes to a restaurant, where he meets Caine from the TV show Kung Fu and famous sailor-man Popeye. He also runs into James Bond, Dracula, Zatoichi, and Clint Eastwood, who do not appreciate Bruce's presence in the Underworld. Those characters, along with The Godfather, The Exorcist, and Emmanuelle are planning a coup to take over the Underworld. Among their schemes, the characters send Emmanuelle to have energetic sex with the King in the hopes that he will have a heart attack and die.
Bruce defeats his enemies, but is angered by the King's repeated use of his dangerous earthquake-inducing pole. Bruce threatens to kill the King unless the King lets him go back to Earth, which the King does.
Did I mention I like really bad movies?