Longman Dictionary of Contemporary English
The Collaborative International Dictionary
Booby \Boo"by\ (b[=oo]"b[y^]), n.; pl. Boobies (-b[i^]z). [Sp. bobo dunce, idiot; cf. L. balbus stammering, E. barbarous.]
A dunce; a stupid fellow.
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(Zo["o]l.)
A swimming bird ( Sula fiber or Sula sula) related to the common gannet, and found in the West Indies, nesting on the bare rocks. It is so called on account of its apparent stupidity -- unafraid of men, it allows itself to be caught by a simple and undisguised approach. The name is also sometimes applied to other species of gannets; as, Sula piscator, the red-footed booby; and Sula nebouxii, the blue-footed booby.
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A species of penguin of the antarctic seas. Booby hatch
(Naut.), a kind of wooden hood over a hatch, readily removable.
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, an insane asylum. [Colloq.] Booby hut, a carriage body put upon sleigh runners. [Local, U. S.] --Bartlett. Booby hutch, a clumsy covered carriage or seat, used in the eastern part of England. --Forby. Booby prize, an award for the poorest performance in a competition; hence, metaphorically, the recognition of a strikingly inferior or incompetent performance. Booby trap
, a schoolboy's practical joke, as a shower bath when a door is opened.
, any concealed device causing surprise or injury when a usually harmless object is touched; -- in military operations, typically containing an explosive charge.
Wiktionary
n. (context idiomatic English) A prize or status, often unwelcome, awarded as a joke or disincentive to the loser of a contest or for poor performance.
WordNet
n. a prize given to one who finishes last in a contest
Wikipedia
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 receive a booby prize such as a worthless coin. Booby prizes are sometimes jokingly coveted as an object of pride.
Booby prizes may also be given as consolation prizes to all non-placing participants of a competition.
Usage examples of "booby prize".
The blanket in question is about an inch thick, and, during wintertime family reunions, was infamous as a booby prize of sorts among the Waterhouse grandchildren.
We will meet his only competition for that booby prize soon, but for the moment, let us stick with Dale.
I didn't bother to list the various non-combatant auxiliary corps because, if I wasn't picked for a combat corps, I didn't care whether they used me as an experimental animal or sent me as a laborer in the Terranizing of Venus either one was a booby prize.
Gone was any idea he might have had of making me dive for the treasure -- all he wanted was the violence of revenge, a booby prize for being cheated.
It's a package deal, sweetheart, even on nights like this, when you feel the prize package you're stuck with is the booby prize.
You take a fatty who radically increases his level of exercise, and what the guy usually gets is the booby prize - a good solid class-two thrombosis.