o_O
uhhh, the only other internet forum i frequent has something like this. almost exactly like this, actually. we have it once a year on the anniversary of the forum. there are many different categories, like "best avatar", "best thread", "most creative" (*points at her sig*), "most friendly", etc etc. a mod makes a thread for nominations, and for a month or so, people nominate others (or themselves, sometimes), for the categories. then the mod makes threads for each of the categories with polls in each of them including whoever was nominated for that category. we all vote for a month or so, and then whoever gets the most votes in each category wins that award. it's a pretty sweet setup, and it's a big thing for us. we even have a sub-forum for it every year.
if someone wants to check it out some more, you can follow the link in my sig. you have to sign up to view the sub-forum, though, since it's a members-only deal.