I'll start by saying that Mattel is great, infinitely better than Jakks or anyone else. That said, stinkers are inevitable. For my money the worst are L2 Snuka and King Kong Bundy.
Snuka does have accurate attire, and I know what they were going for, but aside it being a grave mistake, the head is an abomination.
As for Bundy, the ONLY good that came from that figure were the legs that were used for Earthquake and Typhoon (two amazing figs BTW). Incredibly poor choice using the Andre torso considering that the one strap singlet keeps slipping down. With two the affect is much worse. He should've gotten his own, fatter torso, but they should've just painted the thing on if they insisted on going that route. The Don Rickles head certainly doesn't help.
The figure that I spit the most bile toward however, is the E29 young Andre the Giant 'option'. Yes, the Wrestlemania 3 option is great, but even including the 'young' option like...that...is disrespectful to the legend of Andre. You take off the singlet, put the Paul Stanley wig on, you don't get young Andre. You get old, fat Andre standing in sweaty, stained underwear in a Paul Stanley wig. You can't compare young Andre and Old Andre, and the attire is still grossly inaccurate for anything other than that ONE picture from 1972 where he was about 200 pounds lighter than the figure's representation. Hot garbage, bad attempt, disrespectful. No, I don't applaud their "creativity" in accessories like some here did. It would be like re-releasing DM Hulk Hogan with a Hollywood option consisting of black tights and a Hollywood bandanna to go over the slightly fuller hair. It was a straight re-release with (far too dark) blue trunks and a terrible hair piece being touted as a "two in one". It really doesn't get any more Jakks than that.
Dishonourable mention:
Elite 8 Edge with the rat face is up there.
E3 Cody Rhodes is terrible. Awful head, plain and generic figure, and way too skinny even for Cody at the time.
Mickie James. Bad all around.
Basic 5 R Truth. Throw the whole thing away. Bad head, another with the horrible legs.
All Elite Jack Swaggers were way too skinny, but E5 and WMXXVII also had the Gary Busey head. Yes they look similar, but these heads WERE Gary Busey
American Alpha, both heads are bad, both bodies aren't great, the attires are bland, and they feel like Jakks figs.
Hunico. I remember seeing it in the store, thinking 'who the hell is that? oh wait, Camacho got a fig?' and THEN reading the name.
Every Matt Hardy aside from E3, particularly those with the pants. Impossibly bad articulation, embarrassingly bad head scans.
I kind of have a problem with the basic nWo Macho as well. I HATE that head scan already, looks more like Jimmy Garvin, but the fact that they used it for Macho in 1997 is an abomination. Why the hell did they insist on using the amazing E23 head only once? it would've been perfect for that fig.
E29 had a few as well. I never liked the George W. Punk figure. A basic in the exact attire was released right before, but E29 had the hoodie. At least change the attire! I never really liked the Sandow from that series either. The face only looks like Sandow from a certain angle, but looks ridiculous from all others. Terrible expression.