Said in recognition of an ignoble, foolish, and/or unintended accomplishment, preferably one's own.
"Christmas" has an H in it, Mr Baldrick. And an R. Also an I, and an S. Also T and M and A and another S. Oh, and you’ve missed out the C at the beginning. Congratulations, Mr Baldrick! Something of a triumph, I think - you must be the first person ever to spell "Christmas" without getting any of the letters right at all.