Etymology

close, but no cigar

close, but no ci·gar

Today it means: Used to indicate that one is almost correct or has almost succeeded, but not quite. Full definition →

First used early 20th c.
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The story

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.

First known use, by meaning

  • from early 20th c. Used to indicate that one is almost correct or has almost succeeded, but not quite.

Etymology from Wiktionary, CC BY-SA 4.0.