I get hella stoned and watch Foodfight! at least once a year. It’s my “favorite” movie.
Everything about it, from the implied beastiality between Charlie Sheen and Hillary Duff, to the weird gay bat, to the shitweasel 
is a masterclass in what not to do in a movie. It transcends badness and becomes something sublime. The entire plot is about how store brands/generics are Nazis, and one of the Nazis absolutely chews the scenery in a way that makes Brian Blessed look reserved.
The Cat in the Hat (2004) is my pick. I loved it as a kid and I still love it as an adult. Lots of humor for all ages and all the practical props and sets are so neat.