My former co-worker, James Lileks, is pretty much the recognized king of writing funny captions for horrible food photos, but that doesn't mean others can't do it well, too.
The Company Cookbook has some pretty awesome entries.
Says one entry: "Ok, before you laugh, please know that the chef says, 'This recipe was handed down from my grandmother and has been in the family for years.' The recipe is basically two boxes of orange jello and a carton of Cool Whip. Now you can laugh."
And another: "The cookbook calls this one 'Open Face Sandwich.' I call it 'Someone Forgot About That Damn Cookbook Deadline and Assembled This Using Ingredients Swiped From the Office Charity Food Drive Box'."