The Italian Spiderman
It. Doesn't. Get. Any. Better. Than. This. Behold, The Italian Spiderman, presented by Alrugo Entertainment. The film is supposed to be a recently discovered 1968 Italian action-adventure film, which was then deemed "un-vieweable" by Italian distributors and never released.
In reality, it's a hit no-budget student film by Flinders University students Dario Russo, Tate Wilson, Will Spartlis and David Ashby (Source) - Thanks Camillo Miller!
Here's the trailer:
And the first webisode:
