I remember sometimes players kind of embarrassed themselves for not able to pass the ball into the hole or keep missing shots.
Here is the full description from Wikipedia:
The Taco Bell Skills Challenge is a National Basketball Association (NBA) contest held on the Saturday before the annual All-Star Game as part of the All-Star Weekend. First held in 2003, it is a competition among guards. In the contest, a participant first shoots a layup. After dribbling between three obstacles, the player must throw a pass into a first net that does not touch the ground and follow it with another pass into a second net that must touch the floor. Then, the player shoots a jump shot from 20 feet from the basket. Next, the player must throw a long pass from close to the basket into a third net. Finally, the player will dribble between a second set of three obstacles and complete the challenge with a layup or shot. When all of these tasks are completed successfully, the timer is stopped. Out of four participants, the two with the fastest times advance to the finals. The final round is played in the same way as the first round with the player with the fastest times winning the contest. In the contest, basic ball-handling rules must be observed.
The current champion is Tony Parker of the San Antonio Spurs who ended the 2012 competition with a time of 32.8 seconds.