The image above was taken from sxc.hu, and there are no copyright restrictions with that particular image. It is hardly distinguishable from the original anyway as I played with it quite a bit! I have never entered any sort of online design competition before, so I have no idea how well (or badly) I might do, wish me luck and good luck to all the other entrants as well!
Well, here is my entry, hope you like it. The design itself was first sketched out onto my notepad and then drawn into Fireworks in less than an hour, the coding took me about 6 hours as I was trying new things and experimenting a lot until I came up with this design, which I am very, very pleased with.