We have a local one where a guys pet baby alligator dies (From neglegence), and so he flushes down the toliet, instead of burying it. A couple weeks later he is taking a piss, when he sees something brownish green in the bottom of the toliet, so he flushes thinking its a floater caught, then he hears a gurgle noise and the gator jumps up and bites his penis off.
Its totaly fake, but kids keep talking about it.