Booby Prize

A booby prize is a joke prize usually given in recognition of a terrible performance or last-place finish. A person who finishes last, for example, may get a booby prize such as a worthless coin. Booby prizes are sometimes humorously and jokingly coveted as an object of pride.

Booby prizes, however, may not be given just to those who just have a terrible performance. At times, the term "booby prize" is used for a consolation prize given to all non-placing participants of a competition.