First, this is absolutely not Scary Stories or More Scary Stories. I don't think there is any relation there.
From what I remember the book contained a collection of shorties that may or may not have been authored by different people. It contained some pictures, and they were in full color, one or more with each story. The book resided in my grade-school library but was in a restricted section. It was actually pretty grim. I encountered this book some time in 1984-1986, as best as I can recall.
Here is what I remember about the stories:
A possibly teenage girl who might be babysitting for a neighbor. She finds a really creepy doll. It's possible some history of the doll is revealed through the book (yes, this sounds vaguely like King's Monkey Shines). The doll had button-eyes and a stitched mouth. And sharp hooks set into the hands (She discovers this by accident and gets pricked, I think). The girl meets her demise during a thunderstorm, but the nature of the demise is vague. Like she falls down the steps (there is no power, so she's groping around in the dark), but falls into oblivion or something.
A scientist and his apprentice in what might have been a Victorian era setting. He invents some sort of device that allows flight. Possibly belt sized. He and the apprentice go exploring at night (not safe otherwise), and he also brings along what is basically a cross between an LED laser and a flashlight. They find a terrible creature of shadow in the clouds. The creature might kill the professor. The apprentice returns the next night to battle and possibly defeat it. He may destroy the flying belts after. I seem to recall a picture of either the apprentice or he and the scientist up over I want to say London, and a picture of this great shadowy beast. Vaguely bat or bird like.
A story involving a Basilisk or a Cockatrice, I can't recall which. But I have a memory of a picture of someone staring in horror down a hallway or possibly a stair. Probably as they are about to turn to stone.
Another story about a teen girl. She has to go over to a new neighbor to help with something. The new neighbor is a very creepy old lady. She gives the girl explicit instructions and then leaves. The girl finds this super creepy figurine of a monster, and it has on it instructions not to expose it to bright light; that last detail is especially fuzzy. I'm pretty sure it is light. She's really creeped out by the old lady, the house, and the statue. So she exposes it to bright light, only this causes the figurine to come alive and grow. The monster stalks her through the house and into the basement. I think it kills her. I recall a picture of her hiding behind boxes, and the creature in the background looking in the direction of her hiding spot.
I'm pretty sure there were more stories in the book. But it wasn't a couple dozen, more like eight or something.