Here's a gem I watched several years ago, and had to watch again-- a parody of that movie based off of the infamous musical by Andrew Lloyd Webber, The Phantom of the Opera:
UPDATE 9/29/13: VIDEO HAS BEEN REMOVED FROM YOUTUBE DUE TO COPYRIGHT INFRINGEMENT.
As, I am sure, many current Twilight fans will probably be wondering in a few years about their obsession.
The above clip (which is actually 33 minutes, not the advertised 15) parodies the things that just don't make sense, as well as the silly love story surrounding the creeper who secretly watches a young girl from behind a mirror and then proceeds to single-handedly kill people to improve her career, and then to destroy it. It's not always easy to understand what the dubbed-over voices are saying, and it takes a while to get really funny, but there are some real humorous nuggets.
Such as the following:
Phantom: Welcome to my lair. Let me show you around....
Phantom: [image of the wall filled with sketches of Christine] My wall of crazy!
Christine: [sounding impressed] Ooooooh!
Phantom: My terrifying detailed Opera House diorama, and voodoo dolls!
Christine: I like the colors!