A crackerjack
box was the disposable cardboard
box used to hold popcorn or
candy (sweets), though over time has come to mean a similar box or container used to give away rather useless, cheap toys and/or giveaway items. So anything referred to as 'coming out of a crackerjack box' is being derided as useless, cheap or fake.
Did you get your degree out of a Cracker jack
box? (ie. your degree in media studies / sociology etc. is worthless)
(From Meatloaf's "two out of three ain't bad"): There ain't no Coupe de Ville hiding at the
bottom of a Cracker jack box (you'll never find a valuable and exotic, vintage car in the
bottom of a crackerjack box)