Out-of-sight
This sentence is playing with double meanings. In the late 1960's people were using out-of-sight as a slang phrase to mean wonderful, gobsmacking, just outstanding!, while the literal meaning is out of public view. To preface out-of-sight with "far from" would indicate that the opposite was true in both meanings of the word.
A booby prize is generally a prize for the person that failed the best
at whatever the first prize was being given for.
Edit Geez, Ip, you must have been posting while I was still composing.
Main Entry: 1boo·by
Pronunciation: 'bü-bE
Function: noun
Inflected Form(s): plural boobies
Etymology: modification of Spanish bobo, from Latin balbus stammering, probably of imitative origin
1 : an awkward foolish person : DOPE
2 : any of several tropical seabirds (family Sulidae, especially genus Sula)
from Merriam-Webster Online
A joke prize, usually given in recogition of a terrible performance or a last-place finish. Booby prizes are sometimes coveted as an object of pride and humor.
en.
wikipedia.org/wiki/Booby_prize
