Well, it seems you're not against contest threads, but you probably should see
this.
Sorry mate. I guess that means I technically win my own contest, which is kind of a bummer.
As for your contest idea - sounds interesting (and risky) but I would hope such a contest would only result in a temporary ban (like, maybe a few weeks to a couple months) for the people that don't make the cut.
As for the contest itself - what about a writing contest? I wouldn't win, so I wouldn't take part, of course, but it would definitely be fun to read if the writing section got more attention and the writers there came up with some amazing (or just plain silly) things.
Though if the ban was only 3 days (isn't that minimal ban time?) I would most likely participate.