Here’s a twist on the user-generated ad craze: instead of asking consumers to create an ad for their company, Frederick’s of Hollywood is asking people to design their own corsets! The winning design will be shown alongside designs from celebrities such as Nicole Kidman and featured on the runway during its annual “Clothes Off Our Backs” charity auction.

Lots of companies are jumping on the consumer-generated craze. Dorito’s asked users to create their Super Bowl commercial. Last week, we blogged about Heinz’s contest asking users to create a t.v. spot for them. PayPal is getting in the act with a contest for developers. They’re paying a whopping $10,000 to the developer who can come up with the best Facebook application using PayPal.

But none of the contests has my hubby’s attention as much as the Frederick’s one.

Frederick’s Hosts Consumer Undie Contest
Heinz Ketchup Ad Contest Contest