Eraser is what you expect from an Arnold Schwarzenegger film, two hours of mindless nonstop CGI action with preposterous situations, a body count in the dozens, and epic Arnold one-liners. My kind of movie.
In this scene, Arnie shoots the Alligator tank in the middle of a shootout at the New York City Zoo. The Gators must have been pissed because they go on a rampage. Not Industrial Light & Magic's best work, but decent, I've seen worse. One guy gets his arm ripped off, another gets his head crushed by the Gators. After the appetizers, the gator goes after Arnie. After a short scuffle, he shoots the alligator through the head, and gives the classic line, "your luggage."
Related Arnold One-Liner Kills
Total Recall - "See you at the Party Richter"