Basically a low-budget rip off of the 'Leprechaun' movies but with Verne Troyer instead of Warwick Davis, he's not technically a leprechaun but a gnome but it's still very much the same deal.
And to call something a low-budget rip off of 'Leprechaun' which also was a low-budget franchise you know that this is REALLY low-budget, but that adds a bit to the charm.
Occasionally just plain bad but for the more part so bad it's good to the point that it becomes funny and I had a good laugh watching it, the dialogue is often ridiculously and most of the cast aren't that great either but it does manage to entertain for the more-part so of course that in itself is an achievement.
You have poorly written characters like the obnoxious wannabe frat-boy cop and the lesbian teacher who's taken straight out of a porno providing us with bizarre entertainment, and also entertaining to see in a smaller role; former child-star Ross Bagley from THE FRESH PRINCE OF BEL AIR and the 1994 adaption of THE LITTLE RASCALS again.
But yeah is it a "good movie"? Of course not, but does it entertain? It sure does, it struggles a bit in the second half when it takes itself a little too seriously but it's still a whole lot better than the Leprechaun reboot "Leprechaun: Origins (2014)" that was just plain bad and boring, while this at least provides a good amount of chuckles.