I'll participate in a drawing contest if the prize is an iPod Shuffle!
Mind you, the best thing you can offer to upcoming artists like myself is exposure - if you can get the winner drawing to be exhibited somewhere or written about in a newspaper as well as your own site \ blog - you'll get people to take part even without the iPod (though that's still a nice prize).
Let me know what's the contest's topic and when, where and what people need to submit.