Its game of origin in Clu Clu Land, which is rather random and obscure in this day and age of gaming.
But in Super Smash Bros. it's a pretty good item with balance. It's not impossible to dodge or avoid, but it does pack a punch when it hits its target.
On certain stages it can make your opponents cautious if you place it in the right spot. I've often spotted players who forget it's there, and they certainly feel it.