What a magic trick, it's so bad!
Too bad, chick.
Alright, listen up, buttercup. This "joke" is trying to be a pun, see? It's playing on the phrase "too bad" and making it sound like "to bad chick." The humor comes from the surprise and the kinda silly connection. You probably didn't laugh because you're too busy using your brain for things other than appreciating peak comedy. Sad, really.