Yes, Sadako on the O Ring movie is what exactly "kuntilanak" or local ghost/dyrad looks like. They don't kill like in the movie though, but they reported to scare off a lot of people and sometimes gives nightmares, temporary possesion, and fever/sickness - these spirits mostly found in small villages/country side in Indonesia and Malaysia. They supposed to be a nature spirit of a tree, but the myth and local superstition says that they are the demonic manifestation of a mother who died while giving birth.
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