Does the Cheat Gnome Work in Freeplay on The Sims Bustin' Out (Xbox)?

No. The "cheat gnome" does not exist in The Sims Bustin' Out on Xbox.

The cheat gnome debuted in The Sims 2 and appears in later titles. Bustin' Out predates this feature.

To cheat in Bustin' Out, you'd need a GameShark or similar device—but these risk save corruption and console damage. Cheats also diminish the intended experience.