Leprechaun in the Hood (2000)

Evil's in the house.

When Butch, Postmaster P, and Stray Bullet loot the local hip-hop mogul's studio to fund their demo album, the threesome unwittingly ends up with the secret of Mack Daddy's success: a magical flute. Their gigs instantly turn golden but a blood-thristy Leprechaun and an angry Mack Daddy are hot on their trail, leaving a wake of destruction tainted by politically incorrect limericks.