How bad is it? Part parody, part exploitation, it's not well-acted and it's very low budget.
Should you see it? Yes.
If there were ever a title that demanded I watch the film, this would be it. A girl on a camping trip gets attacked by a werewolf, then wakes up in a prison only to find that she's been charged with the murder of her boyfriend (who returns in a zombie-ish role to explain). From that point, it's a typical women's prison film for a while. Then there's a full moon, people get cut in half, arms and heads get pulled off, people get disemboweled and burnt and a werewolf gets killed by the silver flecks in vodka. The girl escapes and the monster gets put on display in a cabaret (shades of "The Monster and the Stripper!") The "acting" is done by women chosen for their assets and the budget looks like it went to getting as much stage blood and fake severed limbs as possible.