Okay…so my family isn’t really into traditions and that shit and what not, but growing up they always told the kids including myself about how “el cucuy” would come and take us if we misbehaved. It was a way of parenting I suppose and any who, I feel that’s a part of any Hispanic culture and not just something within my family. It shaped me because in a weird way it helped you consider the consequences of what could happen to you if you did something you weren’t supped to do and it also taught you obedience which I feel is important.
This is very similar to the Vietnamese story about the monster and in this way they want to make sure that they start inculcating this sense of respect on the children from they start understanding what rules are. So creating these scary being will make them want to be obedient and good in order to ensure that they are always safe and nothing bad ever happens to them or anyone in their family or such even as they grow up.