Saturday night special

Saturday Night Special is a 60 minute long, comedy-variety show. It aired weekly in Saturday nights on FOX. This show was a competitor to Saturday Night Live, with a similar format of comedy skits and musicians. It debuted on April 1, 1996 but only lasted until May 18, 1996. The theme song to the show was War's "Low Rider".
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The phrase Saturday night special is pejorative slang used in the United States and Canada for any inexpensive handgun. Saturday night specials have been defined as compact, inexpensive handguns with low perceived quality; however, there is no official definition of "Saturday night special" under any federal or state law . Low cost and availability make them attractive to low-income buyers despite their shortcomings.
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Noun
1. a cheap handgun that is easily obtained
(hypernym) pistol, handgun, side arm, shooting iron

(From police slang for a cheap handgun) A quick-and-dirty program or feature kluged together during off hours, under a deadline, and in response to pressure from a salescritter. Such hacks are dangerously unreliable, but all too often sneak into a production release after insufficient review.
[Jargon File]
(1994-11-11)

Often used in risk arbitrage. Sudden attempt by one company to takeover another by making a public tender offer.