Something so incredibly stupid yet mind-blowingly hilarious.
Something, whether a video, song, movie, phrase, person, etc. that provides you with enough jokes to last for years to come, so it's like you've struck gold by stumbling upon it, only the gold in this case is laughs.
Dude 1: What the hell is going on with Charlie Sheen lately?
Dude 2: I don't know but his downward spiral has turned out to be comedic gold!