Placenta. Didn't see it, didn't want to.
Episiotomies. Had one with my first, his head was stuck on my pelvis as I pushed with him for 3 hours. I think it was a second degree tear, and yes it hurt for awhile, but it healed eventually. I tore with my second instead of getting cut and it was much less severe and healed way more quickly.
Poop Yes, both times. And that was one of the parts that really freaked me out, but like others have said, it's cleaned up immediately so you don't notice it much. It was almost a reliefe - pregnancy caused awful constipation for me! lol (How's that for you tmi?)
Alien heads - Because my son was stuck for awhile and ended up having a vacuum assisted birth, he had quite a conehead, as well as a bruise on his head. Poor baby.

My daughter had a gorgeous, perfectly round head, but she came out fast. (A few minutes of pushing with her vs 3 hrs with my son)
Fetal Monitoring. I had continuous monitoring with my son, because my water had broken. My issue with it is that it makes achieving a med-free birth more difficult since you can't move around that much with the monitors.
I had intermittent monitoring with my daughter, which helped a lot! I was able to move around as much as I wanted, which helped both to speed things up and helped the pain. I also got to use the jacuzzi with her and now see why some midwives call it a "water epidural". All I felt was pressure, no pain, and it definitely helped move things along.
Bill- outrageous.
After my son's somewhat difficult birth - pushing for 3 hours was not fun at all - I was really nervous about the second time around. But it ended up being easier, as I knew what to do this time. Besides, once everything started happening I embraced it, I just wanted it over and to be able to hold my baby.