I think it would be fun to play a game where we tell a folk tale in that tale's native language (with an English translation) and the next poster has to relate the story to something another culture has similarities to. If you can't find a similar creature/event/story, feel free to introduce a new one (even Santa Clause or the Tooth Faerie count as folk lore, because each country tells the story differently more or less).
As an example:
First Poster: In America, we have Big Foot. He is primarily seen in wooded, foresty areas and is an ape that walks upright and is very human-like in mannerisms and appearance. He is rumored to be the missing link in the evolutionary chain between monkey and man.
Second Poster: In the Himalayas, there is the Yeti, a man-like ape rumored to stalk the mountainside, etc (but written in a language spoken in the Himalayan region, with the English translation below it).
(Forgive me if my Spanish isn't as smooth as it could be- feel free to let me know how to make it better!
En México, vive un demonio se llamo el Cucuy. El Cucuy le gusta comer los niños que se portan mal. Su aparición es un misterio, pero se ha de afeitar dientes afilados y garras para desgarrar los niños separados. Si un niño no escucha a sus padres, el Cucuy vendrá en su dormir y comer como castigo.
In Mexico, there lives a demon named the Cucuy. The Cucuy likes to eat children who behave badly. Its appearance is a mystery, but it has razor sharp teeth and claws to tear children apart. If a child does not listen to his parents, the Cucuy will come in his sleep and eat him as punishment.