An awesomely bad game I played in recent memory is Cabela's Dangerous Hunts 2009 for the Wii (also available for PS3, I believe).
When I heard the name of it, I immediately thought that I'd be sitting in some forest for 20 minutes waiting for a cougar or something to arrive. Was I ever wrong. Where do I start with this game? For one, it has actual storyline to it: You play Flint Abrahams, a hunter who resolves to become the best dangerous game hunter in the world after surviving an attack from a bear who kills his friend and mentor. The story is told through cutscenes with Flint and his hunting buddies in such a ridiculous manner that you could never take it seriously.
Even more ludicrous than the story is the gameplay itself. Rather than being a very slow-paced hunting simulation, Cabela's is instead a slow-paced arcade shooter. The career mode is split into ten very-linear missions, each with essentially the same objective: Hunt the dangerous animal of this particular area. For a game with a hunting theme, it takes realism and throws it out the window. Every animal you encounter in the game is hostile and will attack you. You're given "hunter senses," which makes the animals and other things glow brightly, allowing you to see them more easily. Flint also has the ability to slow down time and manuever around the animals when he's attacked. The game even has quick-time events in certain areas. Yes, God of War-style quick-time events, in which Flint has to defend himself face-to-face against the dangerous animals, like bears, cougars, and even a frightened caribou.
And despite all this, it's a completely functional, and even slightly enjoyable, budget title. The most hilarious part about the game? If you buy it brand new, it comes with a free year's subscription to either Field & Stream or Outdoor Life magazine.