Neds Newt (1997)

Ned has to do a local history project for school, but all of the good topics are taken. He soon finds out about the Friendly Triangle, an area in town where things allegedly disappear. He gets several eyewitness accounts of paranormal events in the Triangle, but when he tries to investigate them, he finds out all of his witnesses were just from a family with very poor eyesight that lost their things, and that the Friendly Triangle isn't real.