Stretch Films is a production company that was founded in 1991 by John R. Dilworth. It was best known for Courage the Cowardly Dog on Cartoon Network. On a black background, we see a crudely drawn smiling mouth in white, with "INC." below it. The mouth then laughs, revealing several snaggly teeth with a letter on each one; the letters "S", "t", "r", "e", "t", "c", and "h" are on the top row while "F", "i", "L", "m", and "s", are on the bottom row. A TM bug appears when the mouth stops laughing. The whole thing looks very similar to the previous logos.
It has been seen on Courage the Cowardly Dog reruns on Boomerang. On some episodes of Courage the Cowardly Dog, there is a variant where it shows a man (John R. Dilworth) dancing with a banana in his ears on a blue background with orange-yellow radial gradient polka dots. In the top left corner is the Stretch Films logo. The mouth isn't seen laughing, but can still be heard.
The regular: Medium to nightmare. The extremely creepy mouth, dark background, and jarring appearance will scare a lot.
For the banana variant: High to nightmare. The choppy animation, overall creepy subject matter, and jarring appearance will scare a lot, especially for those who are expecting the normal logo and immediately wind up with this.
But for older and mature people, they find it annoying and very, very funny.