We can have contests:

SOTM (Signature Of The Month)
BOTM (Banner Of The Month)
AOTM (Avatar Of the Month)
WOTM (Wallpaper Of The Month)

If there are many entries, we can hold the contests weekly, like SOTW : Signature Of The Week.
Banners should be dedicated to the forum. We can use the banners members will make for the forum front page.
Winners can be allowed to use signatures for a month or whatever such privelege. Or we can make little award or medal pictures that we can place under member's avatar.

I can organize the contests if you guys want. Though, I think more people will join the contests if mods will do it instead of me.

What do you guys think?