It's not horror, but I guess kids have been so scared by it that one of its scenes was included in Bravo's 100 Scariest Movie Moments.
In addition, it was a nightmare to make as there were a lot of issues. Margaret Hamilton (the wicked witch) got burned when she vanishes after first meeting Dorothy. Her standin also got burned during another scene. Also, the person who was originally cast as the Tin Man developed a severe allergy to his makeup. Finally, there's the rumor that you can see someone hanging from a tree in the background.
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