OK, the monster looks like a mouldy Homer Simpson.  Let's get that out of the way early on.

A gangster's plan to make off with a large proportion of Cuba's treasury is thwarted by the presence of Mouldy Homer, who uses his bizarre pencil-fingers to do away with various crew members.  The victims should have tried poking him in his giant goggly eyes.

This is a rarity from B-movie master Roger Corman - a tongue-in-cheek parody of B-movie horror rather than actual B-movie horror.  However, due to idiocy amongst its distributors, the movie was advertised as a serious monster flick, which misled and disappointed movie-goers.

Favourite bit:  The monster.  Undoubtedly.