So this is what the simpsons spoofed off of?

In issue 4 of the Treehouse of Horror Simpsons Comics series, there is a short 3 page story near the back entitled "Basket Bawl" which features Bart and Milhouse speculating "What's in the basket?" that Groundskeeper willy keeps on his shoulder and wondering if it hides a second, evil head. It turns out to be Principal Skinner who has the second head :P

I preferred the Simpsons piss take of Child's Play, with a toupee instead of a child's doll and the awesome shot-by-shot recreation of Chucky's dead from Child's Play, which actually makes it impossible for me to watch CP without thinking how long and drawn out that death is, even for a slasher villain.

South park also sort of spoofs it. At the end of the Aspen ski trip episode, the nerdy chick who likes stan flashes her boobs which look exactly like 2 basket cases. I found it hilarious but I doubt many people got the joke.