Champions Online that will actually go into the game seems like a dream come true.
Cryptic is hosting a Design-a-Villain contest in which players can whip up some fearsome foes of their very own. The top five submissions will make it into the game in the form of Alerts villains whom everyone will fight. The top villain will be used in a 10-man Alert, while the others will be relegated to other roles in the future.
Any players, including free ones, may participate. To do so, you'll need to make an outfit for the villain in the Champions' costume creator, then come up with a name, backstory, power set, and minion type. Bring your best game, for you may only enter twice.
[Thanks to The Grand Nagus for the tip!]