The Ferengi have one of the oddest trajectories for races in Star Trek. When the species was initially introduced in Star Trek: The Next Generation, they were intended to be the series' new primary antagonists. On paper, I'm sure the idea was brilliant, as the Ferengi's commerce-centric culture is perfectly antithetical to the Federation's ethos. In practice, the Ferengi's goofy makeup and hammy performances in TNG's first season turned them from fearsome antagonists to nuisances at best. Although there are great episodes where the Ferengi serve as the central obstacle, they never feel as threatening as the Borg, Romulans, or Q.
Thankfully, during TNG's spinoff, Star Trek: Deep Space Nine, we were given a better look at Ferengi culture through the eyes of Quark. With Quark's inclusion, the Ferengi go from the outhouse to the penthouse with his awesome scenes and stories. In the video linked above, you can check out a retro clip of Armin Shimerman on Regis and Kathie Lee in full Quark makeup.