Flint hung 'em up there after he gullied 'em to mark the trail to the treasure. Wicked sense of humor ol' Flinty had.
9 seconds sound clip from the Muppet Treasure Island movie soundboard.
You can hear this line at 01:03:31.608 in the Blu-ray version of the movie.
Quote context
[...]
- Gonzo? Is that you, Gonzo? Boy, Gonzo, it sounds like you're coming down with a little cold there.
- I'm just gonna light a match if you don't mind, here.
- It's a sign. This is a cursed place.
- Yeah!
- Well, there's an informed opinion.
- All right, Jim, lad, where to from here?
- On a heading of 179 degrees, walk 312 paces from where the dead men hang high.
[...]