A cheapquel is a
sequel to a movie
made as cheaply as possible, in an attempt to make a quick
buck riding on the
success of the first movie.
Disney has been a
frequent creator of cheapquels in the past few years, including:
...and so on. Many believe that cheapquels hurt the image of the original movie, but in actuality it is pretty easy to simply pretend they don't exist.
Cheapquels to live-action movies exist as well, such as "The Santa Clause 2", and "Honey I Blew Up the Kids".
Note that when equal or greater effort is put into the creation of a sequel, it is no longer considered a cheapquel. Terminator 2 is not generally considered a cheapquel, for instance.