Boo! A Halloween Code Golf Challenge
Pyth, 19 18 bytes

j" ~BOO!~ "cz]OtUz


Thanks to @Jakube for golfing off 1 byte!

Try it online.

How it works

                    (implicit) Store the input in z.
                Uz  Compute [0, ... len(z)-1].
               t    Remove the first element.
              O     Select an integer, pseudo-randomly.
             ]      Wrap it in an array.
           cz       Split the input string at that point.
j" ~BOO!~ "         Join the split string, using " ~BOO!~ " as separator.