Warriors of Virtue:
It is a movie about kangaroo warriors and pre-Crouching Tiger, Hidden Dragon wirefighting.
That was the worst movie ever. Of course, I didn't think so back when I saw it when I was in probably the first fucking grade, but now that I look back and remember it, what a peice of shit. It probably went along to inspire other bullshit children's action movies like Spy Kids. Fuck that.
Good obscure movies:
Primer: A sci-fi movie (but only that for lack of another genre name, as it's not in the future or anything...) about a bunch of guys who invent a time machine by mistake and it ends up cloning them. The movie is full of awesome time travel paradoxes you never would've thought of. Plus it was filmed on a $7000 dollar budget, which never ceases to amaze me.
Delicatessan: A movie by those two awesome French Burton/Giger hybrid crazy motherfuckers who made City of Lost Children. This movie is incredibly awesome and there's a scene where a guy plays musical saw and.... so.... see it. Seriously.
My Life As A Dog: The title is actually whatever that is in Swedish, but I don't know any Swedish so yeah. Anyways, it's an awesome coming-of-age story and it has many scenes in which they play "I've got a lovely bunch of coconuts" in Swedish, which has a great novelty value if you don't speak a single word of the language...
Less obscure movies that are worth a checkout if you haven't seen them already:
Fight Club: Greatest movie ever. If you haven't seen it, see it. Asks great questions.
American Beauty: Like Fight Club, this movie has enough good ideas to keep Einstein, Voltair, and Aristotle's love child thinking for a long time. Plus Kevin Spacet is totally amzing in it.
Empire Records: World's greatest movie about a record store.
High Fidelity: A close second. Jack Black at his finest. Plus Tim Robbins getting smashed in the face by an air conditioner.
Many many more. Thank pants for movies. Especially the good ones.
*EDIT* Sorry, but I said one untrue thing. Warriors of Virtue is not the worst movie ever. It is the second worse. "Manos: The Hands of Fate" is the worst.