My favorite urban legend has to be either Bloody Mary. Not the actual Elizabeth Bathory, but the legend about looking in a mirror and saying her name 3 times and all the terrible things that happen to you. When I was a kid, my babysitter's daughter told me about it. We tried it then, but it was daylight out, and so she convinced me that it didn't work then, but at night. I remember that night, I wouldn't walk down the hall because there was a mirror on the outside of the bathroom door. When I finally had to, I ran past it, with all the lights on, of course. I think the next day I had actually forgotten all about it, lol. :P

My favorite is "Humans can lick too." The one about a girl left home alone by parents with only her dog to protect her.