Guinea Pig 5: Mermaid in the Manhole (1988)

The mermaid's breast are visible throughout the film.

Extremely disturbing gore scenes. A mermaid has a flesh-eating virus of some kind, which slowly spreads throughout her entire body. This results in appallingly gory boils and cysts, which over time burst releasing pus, blood, worms and multi-coloured fluids. It overcomes her entire face and upper body in time. The Painter slices and chops the mermaid into pieces, extremely graphic with tons of blood. He then removes a foetus from her sliced-open womb.

Light profanity.

Some smoking.

All scenes involving the mermaid are extremely off-putting and disgusting.