A group of young boys, the Plough Street Gang, are terrorised by the supernatural Mrs McGilvery, a child eating hag.
Adults can't see her and don't seem to even hear the children if they speak about her. But the local children all know that if she catches your eye, exactly one week later she will come for you and leave only bloody scraps and bones behind.
Eddie and his friends have to to find a way to defeat her before she picks them off one by one.
It's not as epic at IT, much shorter and doesn't span the years in the same way, but Mrs McGilvery and Pennywise struck me as being two sides of the same coin and the story was nicely creepy throughout. Anyone else read it?