Odd thing about the post/cover art for this: you'd have no idea it was a horror movie at all, it just looks like a straight comedy. I knew it was a horror spoof, though, and watched it almost back to back with Student Bodies (1981), which I feel was slightly better than this one. This almost feels like it was made for TV.
It starts off with a shot of the moon, and we see the shadow of a wolf baying on the moon's surface, which is revealed to be cast by hands doing shadow puppets, which become hands grabbing a football pass. Four cheerleaders get skewered by a long javelin toss by a mystery killer, so long, the javelin is more like a heat-seeking missile. It makes a shish-ka-bob of them. This is in "It Had to Be, Indiana" at It Had to Be University (It Had to Be U - I like Bullwinkle's Whattsamotta U better).
Years later, a woman reopens the cheerleading school. Each of the new students is introduced by a caption "Victim #1," "#2," etc. Exposition is accompanied by an "Exposition" caption, then "Still More Exposition" etc. A bit weak. Student Bodies relied on captions for humor too.
Isabella Telezynska plays a character spoofing Maria Ouspenskaya's Maleva character from Universal's The Wolf Man, offering a warning in rhyme about pompoms. Carol Kane plays a Carrie-like psychic girl raised by an oppressive mother.
Meanwhile, a driller killer who turns his victims into wood furniture somehow has escaped from prison, and a madman wearing a mask has escaped from an asylum and they hit the road together. The madman's doctor is in pursuit.
Tommy Smothers is the local cop, a Royal Canadian Mountie, for some reason, who has a horse with a circle painted around one eye, and a deputy or servant played by Paul Reubens, doing his Pee Wee Herman voices and laughs, but behaving surly.
The deaths are not quite as odd as in Student Bodies, but there are a lot of them. There are a number of good actors in this movie (like Donald O'Connor and Phil Hartman) who are on screen for so short a time, and given so little to do, often stupid, that they are wasted.
There are some funny lines in the movie, and it is just funny enough not to be a total waste of time.
