All my life I have a memory of seeing a giant octopus attacking a port. When I was young my dad would take me with him to see movies that my mother had no desire to see. In 1955 I was five years old and evidently my father took me to see "It Came from Beneath the Sea" (
http://en.wikipedia.org/wiki/It_Came_from_Beneath_the_Sea ). Today the movie is playing on the Movie channel - a free over-the-air sub channel of WTVT here in Tampa. When researching the movie online I discovered it on the Internet Archive. The full movie (in color).
https://archive.org/details/ItCameFromBeneathTheSea
The movie was originally shot in black & white but colorized in 1983 by Columbia Pictures.
More about the movie:
http://monstermoviemusic.blogspot.com/2011/06/it-came-from-beneath-sea-in-color.html
https://archive.org/details/ItCameFromBeneathTheSea
http://www.allmovie.com/movie/v25501