IFIT boiled down

*"Hey so you're th enew trainee eh? Well today's your big day. No more practice! This is the real thing.
*Hey we're shor ton imaginary friends back home. Think you can help out

or go an entirely different route...

Maybe a teaching animation/game for adults? Bring their inner child back in order to interact with their child as an equal.

Environment
-Find potentially scary things around the house or outside: shadows, noises, creaks

Monster
-Perhaps the monster is an enlarged fear of your child's current worry. Switch the situation around. Make the monster silly or maybe tell a story of the monster afraid of the boy above his head.
-Denounce false beliefs.
-Obtain description of monster through use of a drawing, song, or other.
-Monsters are very real to your child. While you might think their version looks a bit like Monster's Inc. in reality their imagined creation might even scare you too.

Removing the Monster
- Use "Monster Spray" or suck them up with a vacuum. If that doesn't work, call in a friend that your child doesn't recognize and call them the "Monster Busters"
- Invest in a bed that has no underneath side. Fill the underneath side with boxes of toys. Encourage them to bring out the toys revealing to them there's nothing under there
- Careful what you say 3 hours before bed time. Arguments or passionate conversations can send a child's mind any direction.

Your Child
-Don't overreact; Sleeping with your child can cause them to lose bravery thus always running to you for safety.
-Respect their feelings; be on their level. Believe them. Don’t ridicule.
-Bring them into a comfort zone.  Kitchen is a great place. Everyone loves food.
-Once the extermination has been completed, comfort your child.
-Give the child control over the situation.