Greased Lightning is giving you a chance to win $5,000. All you need to do is send them an idea for an event, they send you a kit, and you send them a video of yourself using it. They can explain it better here.
According to the official rules:
'Between May 15, 2008 and August 8, 2008 approximately 255 winners will be selected by the official judges panel (Greased Lightning Brand Team) to receive Greased Lightning Party Kits. Party Kits are valued at $110 and may include some or all of the following: T-shirts, Cap, Apron, Balloons, Pennants, Streamer, Poster, Foam Lightning Bolts, Inflatable Fan-ta-sticks, Napkins, Plates, Plastic Cups, Shopping Tote, Playing Cards, Sponge, Five (5) Gallon Bucket, Table Cloth, Koozies, Squirt Guns, Frisbee, Crayon Wheels, Beach Ball, Temporary Tattoos, and a Greased Lightning Coupon'.