It's the staple idea of revenge and retribution used in many an EC Comics tale and subsequent portmanteau movies of the 70s and 80s, such as Vault of Horror and Tales from the Crypt.
A Halloween tradition is revisited by a bunch of friends, looking for twisted kicks. What they didn't expect is what was to follow in its wake.
By twisted kicks, that appears to mean to beat someone up once a year at Halloween for no apparent reason. It's a fairly lame excuse for the golem-esque story which follows, even in this Pumpkinhead sub genre of horror, but hey ho.
Some of the gory scenes are quite entertaining but way too drawn out to have any shock factor; the lack of budget is not concealed well with sleight of hand in the editing - which is probably the movie's weakest point. Most scenes could be trimmed a bit; it's a slightly tedious viewing experience and doesn't lend well to the movie's quality, especially where the acting is concerned. The performances are pretty good, it's just that the scenes need a bit more trimming to feel right and the characters really needed a bit more fleshing out.
I love this kind of horror tale, it just hasn't been presented very well. Hopefully the makers can take on board the criticism and get it right next time. Candy Corn has a lot of unrealised potential and I really wanted to like it more.