Along with the "action movie" phenomenon, a sub-phenomenon began to occur - the rise of action-adventure movies where children were the heroes. Goonies is probably the most famous example, but you also had films like E.T., Cloak and Dagger, The Lost Boys, Flight of the Navigator, and today's gem, The Monster Squad. All of these films, and a number of others, feature children - often not even teenagers - as the protagonists, often either directly opposed, or at least hindered, by the actions of adults. The great thing about these movies is that it portrayed children as being smart, able to solve problems with creative solutions, and capable of great bravery and courage when necessary. I wrote about this at some length when I reviewed Super 8 back in 2011.
The plot of the movie is pure cheesy fun. Dracula comes to town and brings with him the Wolf Man, the Creature from the Black Lagoon, Frankenstein's Monster, and he even wakes up a Mummy. He also creates a few Brides to cause further mayhem. Dracula is looking for a powerful gem, a physical concentration of pure good, that can be corrupted and used to cause terrible things in the hands of monsters. The Monster Squad, a club of young kids who obsess about monsters, get their hands on an old book that turns out to be the diary of Van Helsing, and inside the diary they read about the gem (with the help of an old German neighbor who "knows all about monsters", being a concentration camp survivor). They discover that the gem is hidden in town, and begin a race against time to find it and save it from the clutches of Dracula and his monstrous allies.
Overall, this is a great Halloween movie. I wound up watching it twice over the last couple of weeks, and it's got action, comedy, horror, and even some real emotion. The kids are all great, the special effects are surprisingly good (Stan Winston Studios), and Duncan Regher's portrayal of Dracula is particularly creepy and effective. There might be a little bit of hamming it up here and there, but he's certainly better than a number of Draculas in cinema over the years.
Here's a great version of the film's trailer on YouTube. The movie is on On Demand with my cable provider right now, but you can pick it up at a reasonable price. If you haven't seen it, or if it's been a good 25 years since you did, the movie is worth a repeat viewing.
And just remember, Wolfman's got nards!