Labyrinth scarred me for life in terms of seeing David Bowie's package in those purple spandex. Ktspktsp loves Bowie's music, but every time he puts on a CD, all I can see are purple spandex and that nasty bulge... and that hair!!! GAG.
Anyway, strangely enough, I really can't recall any childhood-favorite movies. I did like the Wonderful World of Disney, when they showed it (especially around the holidays, like Halloween). I guess I had to watch a lot of horror flicks with my dad when I was young, which also scarred me for life.
I think I was really MUCH more of a reader (and playing-outside type) than a movie-watcher, or my parents just didn't want to take me to the movies (we rented a lot of videos). I also played a lot of the first Nintendo... and before that, Atari!! Yes, I AM that freaking old!!!
Neverending Story might make the list. And I do remember Willow, though I liked playing the Nintendo game more than watching the movie (I also rented a lot of Nintendo games).