Years ago I seen a movie on t.v about some teenagers that found an alien and at first they thought it was pretty cool but then it eats their parents and their friend. The alien also had a crush on an Elvira-esque woman it seen on t.v. I didn't care for the movie but not remembering what it was is annoying me.

Edit: One of the teenagers was called O.D.

Terror Vision (1986) (http://www.youtube.com/watch?v=TxkELa9w2j4)