According to TMZ, a video of Gary Coleman’s long dong silver is swinging across the Internet — and the guy in charge of the footage wants it removed ASAP… threatening a $10,000,000 lawsuit if it doesn’t disappear soon.

Ron Carlson — the director behind the documentary “Midgets vs. Mascots” where the footage first appeared — fired off a nasty letter to the people at kikster.com (who published the clip) accusing them of illegal activity.

Carlson calls the isolated video — which shows an exposed Coleman in some kind of shower — “a direct and blatant violation of our Rights and quite frankly offensive on so many disturbing levels.”

The angry director gives the website two options — take it down, stat … or pay $10,000,000.