The Peanut Butter Solution (1985)

Synopsis
Convinced that a recently burned-down structure harbors ghosts, young Matthew Mackay and Siluck Saysanasy decide to investigate the ruins. In true "urban legend" fashion, what Mackay sees inside the structure causes him to go bald on the spot! His distress is mollified when a pair of friendly ghosts whip up a "peanut butter solution" that will ostensibly restore his hair. So hirsute does Mackay become that he is kidnapped by a paint-brush manufacturer. ~ Hal Erickson, All Movie Guide