http://www.imdb.com/title/tt0078477/

This was one of my favorite movies as a kid and, so help me, I cannot figure out why. For some reason, while running from a false charge, a boy falls into a lake and forms a ragtag band of misfits including a Scottish lobster, French swordfish, and gay seahorse. How all of these things found their way into a small English lake is anyone's guess, but they free a race of enslaved underwater children with the help of the kraken, who for some reason is played by King Neptune instead of the giant ravaging monster it's supposed to be.

Having grown up on movies like this make me realize why I've never had to try drugs.