I never saw this, but a friend told me about it in the late 1980s/early 1990s. Apparently, it was on TV, perhaps in an anthology show, like "Monsters", or an unknown anthology movie. The idea of it always intrigued me, and I've never forgotten it and have tried various searches.
These ice fishermen are out on a lake. One shines a light in the ice fishing hole and says something like, "I see a fish reflecting the light with its eyes."
Another fisherman says, "Fish eyes don't reflect light..."
And that was basically how the segment ended, with whatever was under the ice killing the fishermen.
Any ideas?