The skit was called The Ugly of Uglies. It resembles one of those "shows" they used to do in the old days in circuses and such where people with oddities were presented for all to stare at. There is a showman, or a presenter who gets up in front of the crowd and shows a "creature" behind him hidden under a thick blanket. The claim is that anyone who dared look under the blanket and see its face would promptly--this is where our version differs from others--die from it's hideousness. He calls for volunteers, and one brave soul volunteers. There's a peek under the blanket. The volunteer screams in horror and promptly dies. Two or three more volunteers repeat the actions. The man calls for one final person to come up and look. A person is selected and proceeds to pass the other dead bodies straddled on the ground to look under the blanket, in which the "creature" under the blanket screams in horror and dies upon looking at that person.
The skit version I've seen most people do, they just scream and run away. We always found it more effective to make everyone die. Morbid kids!
The volunteers were in on the skit, except for the last person. It was a fun thing to do with our cousins and extended family. That was one of many we did for them.