There are many cultural references in the tradition of Borderlands 3. The game's developers, Gearbox Software, like to find almost any opportunity they can find to add a popular culture question to their game. This one is a reference to Netflix's hit series, Stranger Things, and it refers to the monster that the heroes of the series have encountered throughout the series, the Demogorgon.
Stranger Things Easter Eggs in Borderlands 3
You don't have to get too far away to activate the quest. You are going to have the chance to see Borderlands 3's take on the demonic creature. The quest becomes active on the shrine and you should see it as a quest marker. Approach the terminal to accept the quest and it will take you to Pandora. You might not be too familiar with the layout, if only because you haven't visited this part of the game for a long time.
When you get there, the exact location you need to visit on the map is northwest of The Droughts Fast travel station on Pandora. You can see the precise location in the header image.
Once there, you'll encounter a handful of annoying Skags. Depending on whether you are playing True Vault Hunter mode or activating one of the Mayhem levels, these creatures will vary. If you visit it during the base game, you should find some reasonably low creatures to fight. Take out the few that appear, and the Demoskaggon will introduce itself. As you can imagine, this is a modified version of the Skags already in the game, with an updated color change and a bright flame.
You should be able to make the job short and complete the quest to get some cash. Additionally, you can check off the Easter egg in your completion list.