Monsturd
Monsturd is a horror/comedy from 2003 about a serial killer who morphs into a monster made of human waste (primarily fecal matter, hence the title).
1. Monsturd is about as low budget a film as you can get; imagine that one weird guy from your biology class who had an unsettling interest in anthropoid feces, and was also the frontrunner of the AV and Drama clubs. Well, he made a movie in his late twenties with an RCA camcorder that he got from the flea market; he co-wrote the script with his fellow Blockbuster employees so that they could sell this to their college customers looking for an edgy take on the modern horror film. They mostly wanted to have a reason to say, "Don't get caught with your pants down."
2. It's similar to Child's Play, with a reincarnated serial killer out for vengeance, but instead of a homicidal doll, the main antagonist is made of dookie.
3. Hazmat suits, federal agents, police chases, and people in lab coats comprise the majority of the dramatic scenes. The rest? A guy in a shit suit, and dying people smeared in brown gloop.
Trailer: https://www.youtube.com/watch?v=9Ld3bmo2J9Q