Sharktopus

It is known as S-11, a diabolical hybrid of shark and octopus created by genetic scientist Nathan Sands (Eric Roberts) as the U.S. Navy's next super-weapon. But when its control implants are damaged during a training experiment, the beast escapes to Puerto Vallarta, Mexico for a taste of sun, sand, bikini babes, jet-skiers, spring breakers and beyond. Now a hotshot mercenary, an investigative reporter, and Sand's biomechanical engineer daughter must stop a creature like none ever witnessed before: It has superior intelligence. It attacks without warning. And it likes to snack on bungee jumpers. (official distributor synopsis)