It's a one-year membership in the Jelly of the Month Club.

6 seconds sound clip from the Christmas Vacation (1989) movie soundboard.

You can hear this line at 01:14:51 in the Blu-ray version of the movie.

Quote context

[...]

- I can't swim, Clark.

- I know that, Eddie.

- Clark, what's wrong?

- Honey? It's bigger than you expected? Smaller?

- What is it? (2)

- It's a one-year membership in the Jelly of the Month Club.

- Oh, God. (2)

- Clark, that's the gift that keeps on giving the whole year.

- That it is, Edward. That it is, indeed.

- I'm sorry. Clark.

[...]

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