The name of the event is Cut & Paste and its a competition open for entries in 2D, 3D, and Motion Design. This year in Japan its being held Tokyo, December 11th 2010. Japan is just one country the competition tours. You can see streaming live feeds of each countries competition on justin.tv . Each contestant has 15 minute rounds to design a concept against a competitor. Here is one such design from a contestant in Tokyo. More on Cut&Paste here and here .