You fill out a sketchbook (they send you a moleskine- i hope it's got thicker paper but it might not) and it goes on tour in a sort of art show. It's $25 to participate, but I see it as a great opportunity.
You never know when some art director might pick up your sketchbook and go..." Hrrm. I like this kid's style. Hrrm. Think I'll hire 'em. Hrrm." (in my world, all art directors chew on cigars and go "hrmph" a lot).
I'm doin' it. You should too!