I love this.
I figured that, since I've seen this so many times, I should drop you a review.
I really like how you integrate the three dimensions into stick figure animation, and I also really like how you integrated SWiTCH's style into the animation. The animation itself is very smooth, and it syncs with the music great.
This is just nitpicking a bit, but at the beginning run scene, the right arm looks a bit like it has three joints. I'm not sure why, though. Also, some scenes look like you used a really low smoothing, but that doesn't really detract from the quality of the animation.
I showed this to a friend as well as the original Tentacle Monsters and she said that she liked your better because of how you used the three dimensions, and I think that I might agree.
When I saw the title I assumed that you were just talking about the tentacle monsters that generally seem to show up a lot in other stick figure animations, like that one that Miccool made (That's the only one that comes to mind at the moment), but I never knew that it was a tribute to an actual animation. And since I'm pretty sure that the idea of this animation, besides to pay tribute, was to get people to know about the original Tentacle Monster animation, I thought that I should just tell you.
On a mostly unrelated note, I'm under the impression that I recognize that song at the end since I listen to a lot of X-Ray Dog. I just can't think of the name...
So, yeah. I'm giving you a ten since I can't find anything to take points off for.
Keep up the work, Terkoiz! I don't know if you're going to post the other two animations for 4 day, but I sure hope you do.
Oh, and where do you get all of the scream sound effects? Somehow I can't imagine you making them yourself.