Gag is a category that we're sure the producers of Shark Tank would disagree with. But this category represents not companies that are a joke (of which there are a few) but instead products that are intended as a type of novelty item.
As the charts below demonstrate, the number of gag products pitched in the tank each year swings wildly, as do the amounts the sharks are willing in invest. Interestingly, the numbers appear to show that gag products are the least likely to appear on the show and the least likely to have a deal made on. But... when a deal is made on a gag product, the sharks appear to throw and unusually high amount of money at it.
If anything is proof that some people have more money than they know what to do with, the companies in this category may be it.