No, this isn't another Warwick Davis franchise movie. But it a surprisingly gory monster movie with an interesting looking Leprechaun creature. It has big teeth, goat-like eyes and looks like it's made out of old wood, sort of like a humanoid walking stick.
It begins with an old guy (William Devane) who is out hunting with his red-headed grand daughter, Karen O'Hara. She discovers a strange part of the forest where there are these old horse shoes and a pile of clover growing. She sees a red four-leaf clover and picks it, which awakens the creature that had been imprisoned beneath. It comes out and starts killing people in the town. Rather than collecting gold it feeds on it, as if it's a drug. Karen's dad is the town's sheriff (Billy Zane) and he doesn't believe in the legend at first but comes around to thinking otherwise by the end of the movie.
As killer Leprechaun movies go this is a good one. This could have been a far better movie if not for the casting of Courtney Halverson as Karen. She pales in comparison to all the other actors and I found her almost as weird looking as the Leprechaun.