8. Phantasio
This gimmick was so bad, it only lasted for one match!
Phatasio was portrayed by journeyman grappler Harry Del Rios. With ratings down, and PPV buyrates in a downward spiral, the WWE decided to focus on 'flashy' gimmicks that would be easy to understand for children.
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Phantasio's big move was 'magically' making his opponent's boxer shorts fly off, and rolling them up for a pin. He also removed Earl Hebner's boxers, which ended up being striped like a referee's uniform.
After one appearance on television, Phantasio worked one more dark match for WWE and the gimmick was retired. You might say it disappeared in a puff of smoke!