In a celebration of cutting and pasting in the new age, the 4th Cut&Paste competition was recently held. The final event in the U.S. was just held in Chicago earlier this month. This video hosted on Wired has the details.
The idea is essentially a way to honor design while throwing some competition into it too just to see what a little pressure will do for people. It seems to create pretty fun results.
More events are scheduled for Berlin this weekend, and in Barcelona on the 25th. They have live webcasts you can tune into.