I would suggest almost anything BUT that... it may seem funny, but anyone with a condom dispenser hanging on their wall may find that it scares women, not to mention a lot of guys, right out of their room.
How about a dart board and a nice set of darts? (Or two.)
If you want to get him something kitschy, get him something kitschy -- not creepy. Instead of a condom dispenser, get him a bonsai tree with condoms hanging off it (a condom tree, like they have at Condom Kingdom). Most girls wouldn't think it was creepy, and might find it funny.