The cheap tripods you see on the market are typically all the same design just different manufacturer labels.
Pros:
1) Cheap
2) Lightweight construction makes them easy to carry around - you can even carry the camera with the tripod attached without any problems (I used to go round the zoo with my rebel and 70-300mm with a tripod attached the whole time with no problems).
3) They can hold an entry level DSLR with a kit lens or something light like a 50mm f1.8 - 70-300mm - 18-150mm.
Cons:
1) They are poorly built - the lever for locking the up and down motions of the tripod head can unscrew from its holding very easily and if done the nut inside drops out into the plastic casing (sealed). As a result you can very easily end up with a tripod head that you can't lock - had this happen to 3 of the ones my family has owned over the years.
2) They have a limited lowest height - because of the leg construction being so light they gain strength by having a plate that folds down that holds the legs at fixed distances apart - as a result it can only go down so far. This is a major pain if you want to take a lower angled shot.
This leg lock also limits how you can position them on uneven ground.
3) They are lightweight (wait wasn't this a bonus a moment ago!) which means that whilst they can hold and support a light camera; they are also not ideal to be left free-standing. Sure if you're within arms reach you're fine but I'd not be confident leaving one to freestand (esp in wind or on uneven ground).
4) The head is fixed; this means its a 3 way head only. On good tripods the head is a separate part which allows you to choose the right head for your style and situation. You might want a ball head - a 3 way - or others to suit your needs.
Overall they are ok - but if you want a tripod you'll really like and enjoy using get a good one. A Manfrotto series tripod is a good starting point and they've several budget ranges on the market. Failing that hit up
ebay and find a second hand one - the second hand price of an older tripod is often quite low and the only downside is that you might end up with a heavier one (heavy isn't a bad thing though as that helps a lot with increasing stability).
At the end of the day a tripod shouldn't be cheap ; cheap tripods work but they introduce a lot of compromises that can be dangerous to the health of your camera (falling over is bad) and their limited leg adaptability restricts where and how you can shoot.