Meanings
Apparently from the practice of giving cigars as prizes at carnivals in the United States in the 20th century; those who did not win would fail to receive a cigar, even if they came close.[1]
How to pronounce "close, but no cigar":
AU
Used to indicate that one is almost correct or has almost succeeded, but not quite.
Example: "Betty ran all out in the sprint race; yet, it was close, but no cigar."
