Newly restored, Roger Corman’s riotously colorful adaptation of Edgar Allan Poe’s “The Masque of the Red Death” (1964) and Michael Curtiz’s shimmering pink-and-green “Mystery of the Wax Museum” (1933) are as gaudy as the day they opened — if not as scary.

The two vintage horror films are showing as a de facto double bill on Friday and Monday as part of the Museum of Modern Art’s annual festival of preservation, To Save and Project.

“The Masque of the Red Death” was Corman’s audacious attempt to make an art film for the drive-in crowd — a feast of roistering revelry with intimations of Buñuel, Fellini and Bergman. Eugene Archer, the most auteur-minded of the critics at The New York Times, was enthusiastic: The movie “represents the dauntless young filmmaker at the top of his form,” he wrote.

Also in top form is Vincent Price as a supercilious Satanist prince who terrorizes his subjects by contriving sadistic spectacles of humiliation. His foils include Jane Asher, who wanders through the proceedings in a state of wide-eyed alarm. Asher, who, as Paul McCartney’s girlfriend, personified Swinging London, is one of several local elements. “Red Death” was shot in England using the sets left over from the seriously medieval Richard Burton-vehicle “Becket,” of which it might seem a travesty.