They were doing an homage to the original comic books.
The movies, like the TV show episodes, are based on or inspired by the EC Comics horror comic books, with titles including TALES FROM THE CRYPT, HAUNT OF FEAR and VAULT OF HORROR (the tv show borrowed stories from several and you can see the title credited). These horror comics ran from around 1950-1955.
The Crypt-Keeper was the main host in the TALES FROM THE CRYPT comic book, with the Vault-Keeper and The Old Witch as "secondary" hosts for other stories. As in the movies and TV show, Crypt-Keeper would be at the start and end of the stories with those legendary (or legendarily awful) puns.
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