Cracked has an article today about "The 15 Most Unintentionally Hilarious Bootleg Toys":
Like elves in Santa's workshop, bootleg toy makers around the world are busy cranking action figures and games for all of the world's children. Only these will be sold by street vendors and dollar stores, at a fraction of the price of official toys.
Of course, to get around copyright laws, these manufacturers in China and elsewhere have to, let's say, tweak things a bit...
For the full list, go read the article. And notice that #8 isn't actually a bootleg, just a really bad idea.