You might know the story by now: Sometime ago, Judd Apatow saw a little indie film called The Foot Fist Way, which played at Sundance 2006 but wasn't picked up for U.S. distribution. Apatow showed it to Adam McKay, who showed it to Will Ferrell (the two being, of course, the writers of the greatest American comedy of the decade, Anchorman) , who along with McKay decided that it would be the first film produced (here, "presented") by their newly formed production company.
As seems to be happening a lot lately, I first heard about Foot Fist a few months ago at Craig Kennedy's Living in Cinema. He ended up attending a press conference and recounted his experience here. The most important thing to take from it was that yes, it was made for $70,000 by three unassuming friends from North Carolina, and no, nobody had any idea how well it would play to people who aren't friends of Ferrell, McKay, or Apatow. People like me.
Danny McBride plays Fred Simmons, an outrageously arrogant Tae Kwan Do instructor who drives a circa-1985 Ferrari and always thinks his blonde bombshell of a wife, Suzie (Mary Jane Bostic), is cheating on him (she is). Simmons naively idolizes Chuck "The Truck" Wallace (Ben Best), a washed up, boozed up action movie star. For the most part, The Foot Fist Way is just footage of Simmons insulting his students and his wife while trying to get past the fact that Wallace isn't everything he'd hoped for in a role model (there's a little more plot than that, but let's just say you won't get lost).
Some of it is funny, most of it isn't. But statements like that really mean nothing since everyone has a different sense of humor. Even though you might laugh more than I did, though, you'll have trouble convincing me that the comedy was consistently there. There's too much training footage and not enough screen time for McBride, who has some classic moments when he's able to just sit down and let loose.
The Foot Fist Way will most likely live on as a cult favorite, and it's a fine start to what may end up being a decently long career for Danny McBride (he's in both Pineapple Express and Tropic Thunder). It was made by three friends, it was shared among three friends, and I recommend watching it with three friends. Much of it you'll forget, but, depending on your humor, a few lines could be added to your "quotable-for-all-situations" list.