Has anyone seen "Caddyshack III" its said to have been made but cant find if its even on DVD or anything?

This movie is NOT being made. The only mention of it is on somethingawful and if you read the entire page you'll see that it's a joke. There were rumors in the '90s that a third film was being released but it never came to fruition. It's not very likely that one would be released now.