If the example has sufficient context to stand on its own without the link, just remove the link and if needed reword the example - or if you know what it was pointing to and feel like finding an alternate version somewhere you can always update it.
If the example doesn't have sufficient context without the link, it is a Zero Context Example - even if the link is still working. Treat it as such.
edited 15th Feb '17 3:32:39 PM by Zyffyr
No, the other one.
It should preferably be reworded into a proper example. If you want you can fix the link with a proper one if you know the source, but that's not necessary.
As mentioned, if the entire example relies on the link, it's a Zero Context Example since Weblinks Are Not Examples, which means either add context, or remove it (either entirely or comment it out).
edited 15th Feb '17 3:35:38 PM by AnotherDuck
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When the outside link in an example is broken - as in, the page no longer exists in some way, the picture or video has been removed - should the example be removed? Or should the example be reworded to no longer need the link?
Say the Floating Heads example of the Jurassic Park comic - click on the link and you'll find that it leads to a moved/removed page.