This was a commercial for awhile, though I can't remember what they were advertising.

That looks fake to me. Freeze it just as he comes up out of the water, it looks as if his arms are gone. Either the croc snapped them both off (at the shoulders) or its BS.

You win the prize Robbie - it was Fosters

From Snopes:

Origins: The above-linked video clip purportedly shows, to the accompaniment of an Australian-accented announcer, a bungee jump over a river by one "Big Doug" which ends in tragedy when Big Doug's head is bitten off by a crocodile who emerges from the depths with jaws open wide just as Doug hits the water
headfirst.

One tell-tale clue to this video clip's authenticity is the fact the audio cuts out halfway through. The reason for this editing is that a voice-over at the conclusion of the original, unedited clip reveals it to be a television commercial for Foster's Beer: "New Foster's hit tap. Don't lose your head."

This 2003 Foster's commercial, promoting "a new pouring system intended to give drinkers a consistent head on their pint," drew complaints when it first aired from hundreds of viewers who were disturbed by the seeming authenticity of the home video-style ad. As the UK newspaper The Mirror reported at the time:
Aussie beer giant Fosters has upset viewers with their latest TV ad showing a crocodile biting the head off a bungee jumper.

Family groups are in uproar over the 30 second clip — shot in the form of a home movie — which shows a man leap off a crane into a river. As he skims the top of the water, a croc lunges at him.

The hand-held camera then pans in for a close up, showing the victim's headless corpse dangling lifelessly on the bungee rope. Laughing, the cameraman jokes "Crikey! that's got to hurt" before the ad finishes with the slogan "Don't lose your head".

The Independent Television Commission has had 87 complaints since it was first aired on July 14.

Fosters said the ad was designed to promote a new system which gives drinkers a constant head on their pint. A spokesman said: "Our aim is to use Foster's 'No worries' Aussie-style humour."

Gettin old, Ace. Can't tell reality from the demonic fabrications of those young punks with their infernal videoscopic editomatic machines. Why next they'll be using Mr. Daguerre's unholy photometric plates to fabricate evidence of 'faeries' or some such hugger-mugger.

Bet you thought that robot baby on ER a couple weeks ago was real, right?

Bungie jumping is for the truly insane i mean who would jump off a cliff,building or bridge with a over sized rubberband tied on their legs?

Hey Ace, where's the HTBF post? Are you and Karol still on with John Fund today?

If you screw up, I expect at least a big bold headline that says "Loose Shit Update."

Bungie jumping is for the truly insane i mean who would jump off a cliff,building or bridge with a over sized rubberband tied on their legs?

Um, me. I jumped off a 220 foot bridge at Skippers Canyon in New Zealand some years ago (maybe 15-20) when this craze was still new. I the time I was told it was the highest commercial bungee jump in the world. Here's a picture of the bridge from the canyon floor (scroll down a little).

The equipment was pretty simple. They hooked the bungee up to a towel that was just tied around by ankles.

It was, to say the least, an exhilerating experience.

I am disappointed that it is fake.

Wacky accidents make me chuckle. I don't know why, but they just do. Every summer there are senseless deaths caused by roller-coaster accidents. I laugh. Hunters shooting other hunters. Yep, I laugh. Shark attacks -- nuttin' funnier.

Suicides with originality, humor, and a flair for the dramatic are cause for me laughing, too:

THE body of an unidentified Western man has been found in the Gulf of Thailand after he apparently jumped - luggage in hand - from a small plane he had chartered in the kingdom...

The plane was flying at about 210m elevation more than a kilometre off the Pattaya coast when the man kicked the door open, grabbed his bag, and leapt out without a trace,

Jeez, I hate rereading a comment that I should have previewed.

"I the time" should be "At the time".

"by ankles" should be "my ankles".

"exhilerating" should be "exhilarating".

Um, me.

Yeah, me too. Most freaking terrifying moment of my life as I leaned forward off that platform convinced I was going to die. Been there, done that, bought new underwear.

Bungee Jumping jump off a cliff and SPLAT your a big gooey mess way down there these bungee jumpers are nuts

yeah, me too off the golden gate. great white bit my head off, now I just talk out of my ass.

Have you ever actually seen what it looks like when a bungie cord actually snaps above ground? Big, gooey, bloody, flat, mess. Takes forever to clean up and to put into Wendy's chile.