There's sooooooo many great nominations for bad songs. I guess the song itself would have to be bad....wretched cover versions of decent songs don't count.
How Bout:
Muskrat Love: Captain & Teneille
Mickey: Toni Basil
Too Legit to Quit: MC Hammer
Actually, I'm a big fan of really bad album art. My favorite site is here:
http://tinyurl.com/4xvu5
(This site is worth an hour of wasted company time, easy!)