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Golden Raspberry Awards
The Golden Raspberry Awards or Razzies, first awarded in 1981, were made by John J. B. Wilson in 1980, with the goal of being the opposite of the Academy Awards by dishonoring the worst movies. It is usually a plastic raspberry spray-painted gold and mounted on a plastic base, however Bill Cosby accepted a custom-made one made out of 24 carat (99.99%) gold and Italian marble.
Today, awards are voted by the membership of the "Golden Raspberry Award Foundation" (GRAF), and anyone can become a member of the foundation, something that does not happen with the Academy Awards. Usually, nominations are made public one day before the Motion Picture Academy says its Oscar nominations, and the awards are presented one day before the Oscar ceremony.
The term "raspberry" is used as a joke, as in "blowing a raspberry."