The Creepypasta, on the other hand, consists of freakish, horrifying and mysterious stories and urban legends which are spread over the internet in the same fashion.
An example of a common type of Creepypasta is the "Lost Episode" variety, which describes an unknown episode of a popular childrens' show such as My Little Pony: Friendship is Magic, SpongeBob Squarepants Etc (See: Squidward's Suicide and Cupcakes) that only aired once and was supposedly seen by the author of the anecdote, which in the first place contained mature/mean-spirited content that would never be allowed on such a show, as well as the characters behaving strangely and other usual elements being out of the ordinary, usually leading up to some horrific event in the show such as a violent death (Dead Bart), after which the episode degenerates into nightmarishly surreal and random material such as flashing disturbing images and going into static/lowering the image quality, as well as maintaining one unnerving image for an extended amount of time with no action, usually until the program ends and the TV returns to normal when the next show comes on.
The purpose of these "Lost Episodes" is to frighten the readers by leaving the true nature of the bizarre and violent images up to the imagination, generally suggesting that the "episode" is either linked to some monstrous real-life event/crime/killing, or that it is the work of some incomprehensible cosmic horror (Candle Cove).
Other Creepypastas generally describe more typical stories of a mysterious and disturbing nature. Those stories are the real life stories (Jeff the Killer, Homicidal Liu, Jane the Killer, Smile Dog and Slenderman).