Via Neatorama: " Behold, The Italian Spiderman, presented by Alrugo Entertainment. The film is supposed to be a recently discovered 1968 Italian action-adventure film, which was then deemed 'un-vieweable' by Italian distributors and never released.
"In reality, it’s a hit no-budget student film by Flinders University students Dario Russo, Tate Wilson, Will Spartlis and David Ashby."