What is the meaning of Wooden_spoon?

A spoon made from wood, commonly used in food preparation.

An ironic prize for finishing last in a competition.

The last junior optime who takes a university degree.

The lowest appointee of the junior year; sometimes, one especially popular in his class, without reference to scholarship. Formerly, it was a custom for classmates to present to this person a wooden spoon with formal ceremonies.

Source: wiktionary.org