In what one could consider an attempt at hipster irony before hipster irony became annoyingly pseudo-cool, back in the '80s the Garbage Pail Kids trading cards eventually spun off a series of small plastic figurines in mini trash bags, labeled "Cheap Toys with Crummy Candy." It was truth in advertising, even though kids assumed it was sarcasm.
It's possible that any larger kind of toy might have run into legal issues had they been seen to directly compete with Cabbage Patch Kids in any direct way, but they really didn't have to be THAT cheap. We know this because come October, Topps is finally doing fully painted, good versions of these toys, in the same scale and called MiniKins. In a twist that probably does qualify as legitimate hipster irony, there are chase variants in single colors to replicate the original cheap versions. Rather than candy, they come with smaller versions of the classic stickers.
You know what has to come next, right? Time for a movie reboot. And let's be honest, Hollywood really can't do worse than the original this time.