This is the very silliest of the stories I am going to be reading. It is not really even in the general area of creepy, but, again, I couldn’t resist. It is another from my childhood, and I just love the ridiculousness of the stories in these collections. Wikipedia tells me that Tailypo is actually a creature of North american folklore, particularly in Appalachia, and that alternate names for it include Taileybones, Tailbones, Taily Po, Taileypo, Tailey Po and Tailipoe. The more you know.
A quick Google search will bring up several versions, with slight variations, but I was not able to find the particular one read here.