theOtaku.com and the AnimeFF convention (visit the site for more information on the actual convention) are running a large art contest, open for artists to enter. The contest will be open for submissions through theOtaku's fanart site until December 20th. During the convention (January 13th-14th), the submissions will be put on exhibition for the people attending to vote on. Artists do not need to attend AnimeFF to enter the contest, but voting will be restricted to attendees only. Entries are, however, restricted to the US.
The submissions need to follow with the breast cancer awareness theme of the convention, and can not contain licensed anime characters, but the restrictions are fairly loose. Eight winners will be chosen, with first and second place winners receiving a PlayStation 3, and third through eighth place a Nintendo Wii. More information on both the convention and the contest can be found on their websites as it's made available.