The roblox teapot hat is just the Utah teapot, which is available as a default primitive in many 3D apps. On top of that, the Utah teapot is basically the original bad 3d model. I mean look at the wikipedia article
http://en.wikipedia.org/wiki/Utah_teapot and look at what it was supposed to be a model of.
So then you take the grand daddy of bad models and export it into roblox, a game with infamously bad models. It must be a joke. So maybe it's a joke name. Maybe it's just so bad that it's funny and everyone on roblox is in on the joke.
C'mon rawrman, get in here and tell us it's a joke. It's a joke isn't it? Isn't it?