"Girl's Nite Out"
http://www.imdb.com/title/tt0087336/Hands down, my favorite 80's slasher flick where a killer in an especially goofy looking bear suit runs around snuffing sorority sluts with a big pawfull of steak knives and calls them bitches and whores while doing it.
Look for a great "phoned in" performance from Hal Holbrook in this baby. He only appears in a couple of brief scenes (usually sitting down at a desk, on the telephone) yet somehow still receives star billing. The producers must have had photos of him blowing a guy or something. His chubby son co-"stars". You might remember him as the fat guy who gets killed by Old Chief Wood'nhead in "Creepshow 2". Or not.
Diehard fans of "Revenge Of The Nerds" (myself included) might enjoy seeing Julie Montgomery (Betty!) get the dutch oven treatment from her gassy love interest. Another putrid element of the film is the soundtrack, featuring stinky nuggets like "Hot Town Summer In The City" and "Yummy Yummy Yummy I Got Love In My Tummy".
This "classic" 80's horror flick is available on dvd thanks to the fine folks at Media Blasters. A must-see, very enjoyable flick for hardcore slasher enthusiasts!
Here's the trailer:
http://www.youtube.com/watch?v=7n_36BkzcHk