Oh cheesy horror films? Lets do the list:
1:
Bad TasteThis film is worth watching because you get to see Peter Jackson scream "EAT MY SPINNING STEEL SHITHEAD!" Then jump right down an aliens throat holding a chainsaw. Also, someone blows up a sheep. Also, it has one of the best theme songs in cinema history. Remember: "Dereks don't run!"
2:
Brain DeadAnother Peter Jackson film. Classic tale of boy meets girl, boys mother turns into zombie, mother eats girls dog, boy imprisons mother and growing horde of zombies in the cellar and keeps them sedated with animal tranquillisers purchased from an insane nazi vet, boys lecherous uncle throws house party, boy accidentally injects zombies with stimulants, zombies devour guests, boy slaughters zombies with a lawnmower, boy is devoured by his massive bloated demon mother, boy literally hacks his way out of her womb and leaves her to burn, boy and girl live happily ever after.
3:
I Bought a Vampire MotorcycleIt's about a guy (Neil Morrisey!) who buys a motorcycle. The motorcycle turns out to be a vampire. It won't run in sunlight, but when night falls it sprouts blades and spikes and roams the streets of Birmingham refuelling on the blood of hells angels, prostitutes and traffic wardens. Blood-draining tubes sprout from its front fork, it can fire off crossbow bolts, its broken head-lamp transforms into a rending broken-glass jaw, it does wheelies and grows scythe blades from its front wheel which it uses to decapitate people, and various other wonderful things. It can also climb walls. After the bike hares off at night (presumed stolen) and is found next morning with a traffic wardens leg clamped in its headlight jaws, Neil Morrisey procures the services of an eccentric catholic priest (Anthony Daniels, aka, C3PO!) who rides to his assistance on his Harley Davidson trike, armed with blessed throwing stars, garlic and stakes. This film also contains one of the best bar brawls committed to celluloid (it begins with a hells angel shooting a crossbow bolt into a pint of Strongbow).
4:
The Evil Dead 2: Dead By DawnYou should know this one.
5:
Killer Klowns From Outers SpaceIt really is all in the title. Insane clowns come from outer space, wrap people up like candy floss and suck out their innards. It really is that simple folks.
Runners up:
Chopper Chicks in Zombie Town: Undertaker resurrects corpses as zombies by implanting batteries in their heads so he can use them as slave labour in his secret uranium mine. Luckily, an all-girl biker gang and some blind children with uzis team up to save the day.
Hard Rock Zombies: Undead rock band must battle Hitler and his werewolf spawn.
Surf Nazis Must Die: Perhaps not strictly a horror movie, but I don't know what the fuck else to call it. This one is best explained by its poster:
Revenant: At the climax of this film, the Bloods, who have been turned into vampires by gang-raping a vampire chick, fight Draculas vampire mafia in a vampire S&M club where people in gimp suits with IVs serve as optics bottles behind the bar. Might be funnier if it wasn't played as a comedy. Still fucking hilarious. Great opening as well.
Beware! Children at Play: Have you ever wanted to see a cannibalistic child get a pitchfork shoved through his neck? Well, I have a film for you...possibly the most pointlessly offensive thing Troma have ever released, and that says a lot.
...and countless others. Really, these are probably the best sort of horror movies.