Essentially, you select a character (I chose Stiles from Teen Wolf). Then you pick two to four fandoms, none of which matches the character you chose. The mods will pick a character from one of the fandoms and you'll create a fanwork with both of them walking into a bar. Or, ya know, some permutation thereof.
Fanworks can be:
-a story of 500+ words
-a complete piece of art (manips and graphics are yes, banners and icons are no)
-any combination of the above
-something else approved by the mods.
Obviously, a lot is left up to you. Spread the word and check out the full rules for more info. Signups will end at 11:59 CDT October 27 (check out your local time here), so you've still got plenty of time to join the fun! Assignments will go out on November 3, posting begins November 4, and the last day to post/default will be December 4, so it's a lot of time for not a huge requirement. If you're interested in what people come up with, the masterlist should go up sometime in mid-December.
For those interested, the fandoms I chose were: Eureka, Pacific Rim, SGA, and Merlin. I just can't with Stiles and ANYONE FROM ANY OF THEM. (Dream characters: Jo Lupo, Newt Geiszler/Mako Mori, Ronon Dex/Rodney McKay, or Merlin.) It's gonna be a lot of fun.