the make of car was introduced 1956, named for Henry and Clara Ford's only child; figurative sense of "something useless and unwanted" is almost as old. Edsel is a family name, attested since 14c. (William de Egeshawe), from High Edser in Ewhurst, Surrey.
Something useless; a fiasco: We have to win out. We're not selling Edsels, you know
[1950s+; fr the Edsel car, so named in 1956, which fell short of commercial success]