I wasn't watching WCW at the time but I had heard about this. Dustin Rhodes played a character who was kind of a weird cross between Freddy Kreuger and The Undertaker. He would kidnap children from their bedrooms and brainwash them.
He also dressed similar to the Undertaker, had similar gothic music and literally floated to the ring. Yes, that's right. He floated to the ring. Take a look at one of his vignettes and his entrance.
This would never work for a variety of different reasons. A pedophile Undertaker? Who the hell comes up with this stuff?
It was the Attitude Era, and WCW was doing their best to keep up with the zany stories and characters. Also, Vince Russo had recently jumped from WWE to WCW at the time. I wonder if he came up with this horrible concept?