Something cheesy may be cheap, inferior, trite, banal, chintzy, unsubtle, inauthentic, ridiculous, cheesy looking, or just cheesy tasting.
Something that is electric cheese would be cheesier then most other cheesy things.
If something is currently the cheesiest thing you've heard of or experienced in your entire life, then you can call it "the electric cheese."
Stacy: Look at that guy with his hairy legs and a Speedo!
Kate: Ew! He's also wearing socks and sandals!
Stacy: That guy's outfit is electric cheese.
The acting in Silent Night Deadly Night 2 is the electric cheese.