The masked medieval executioner (headsman) used to be among the staples of holloween horror. MPC included an executioner in its 1960s set of horror figures. The headsman has faided away in favor of zombies and other newer horror icons, but I still appriciate the character and think he fits well into a fantasy setting. I recently found another 54mm headsman and decided to put him next to the MPC figure for a post. The new guy is made by a company called Replicants.
One of the new horror icons that has replaced the executioner is the evil clown. I think this trend just recognized what we all understood instinctively as children. Clowns are horrible evil things and they are out to get us all. There are neet evil clown figures in toy soldier scale from the Yu Gi Oh and Huntik lines.