Referring to shoddy goods or workmanship
At least in the UK, the reference to "Mickey Mouse" is used as a descriptor of something cheap and shoddy. It turns out that this comes from the influx of cheap, counterfeit Mickey Mouse watches into the UK during the Second World War. At a time when Britain was struggling with rationing, and luxuries were often few and far between in addition to being expensive, the islands were a target for many who sought to turn a quick profit on a low-grade product. As expected, many of the counterfeits were poorly made and inaccurate. "Mickey Mouse" became a byword for low-quality tat.
The usage is quite common around the world.