"The Peanut Butter Solution"

How do I explain this movie...by reading reviews for it, it seems everyone who saw it as a kid was traumatized by it and later recount the same experiences: remembered bits and pieces, tried to tell people about it, were told that they were crazy and dreamt it...then one day finally found the name of it...blablabla..
ANYWAY..the copy I ordered on ebay finally came in yesterday and I saw it again--wtf:
A boy loses his hair due to a fright "hairum scareum", from walking into a haunted house. Some ghosts come and tell him to make this mixture with bugs, a rotten egg, and some other gross stuff, but he uses too much peanut butter so his hair won't stop growing. He gets kidnapped by the "Signore" who makes paintbrushes out of his hair. The Signore walks into a painting of the haunted house and the "fright" is transferred to him.

In conclusion, I'm not crazy. This movie does exist and I saw it today. So shove it.

In second conclusion, I love ebay. I also got a collection of Pete and Pete and Are You Afraid of the Dark episodes. I also got episodes of The State which were of somewhat crappy quality, but still made me laugh.