Beware the Spirit of Lake Deepwater.

In the hamlets and villages around Lake Deepwater, parents and grandparents alike whisper to their young ones about the beast of the Lake. If they stray too far from the safely of the village or misbehave the many-headed spirit will come and drag them to the depths of the lake. Appearing a massive beast with a hundred snake-like heads the spirit is the combined sorrow of every disobedient child or sinful adult lost to the lake.
No one alive can recall if there is truth to the tale as the Lake is dozens of miles wide and all many of creatures call it home, though every now and then fishers or brave souls seeking to traverse the Starspires will disappear without a trace, each time their fate is credited to the Spirit of the Lake.

Summary

Those who misbehave or wander alone near the shores of Lake Deepwater will be snatched up with the mighty spirit and dragged down to the bottom of the lake. 
It is hard to know if the legend or the first disappearance happened first as each retelling uses the more recent losses to keep the tale relevant and effective.

Historical Basis

In truth an Ironscale Hydra calls an island on the Lake home and will occasionally swim far from its home to feed, coming upon a lone wanderer they will be snatched up and devoured in a lighting fast strike from beneath the waves.

Spread

It is common in the hamlets and small villages around Lake Deepwater but has travelled as far south as deepwater and east to Sentinel Point.

Variations & Mutation

With each retelling various details are embellished or omitted depending on the education of the storyteller.

Cultural Reception

The spirit of the Lake has become a cultural tale for the people of northern Dolnar, though it bears little weight anywhere else where it is lost among a dozen such stories.

Date of First Recording

320