In Cuenca, where I was, the Amistad Club and Azuy Union of Journalists organise such competition. You have to register your creation and explain what or who it represents and detail why public notice should be focused thereon. A jury of Club members commences its tour of exhibits at 4pm and deliberates over events. Prizes are given. The final day of the Old Year is lots of fun.
Young people dress up as widows, witches and skeletons, etc, symbolic of the Old Year.
They stop cars in the street and beg for a donation, which I suspect goes to buy fireworks. I approached a group of kids in fancy dress on a Cuenca street and admired their dummy. I ask, slipping a few thousand sucres into an outstretched paw. I admire a fancy procession of floats with pretty girls on horseback, that stops briefly at a church for a blessing. Towards dusk, the centre of town around San Francisco Church and the market is blocked off to vehicular traffic.