Fellow trend blog PSFK have started a global cool hunt using Flickr. It's been coming - first the post on the end of coolhunting, the rise of folksonomy and now this.
Anyway, to enter you need to take a photo of anything you think is cool and then post it to the PSFK GLOBAL COOL HUNT group on flickr. The guys initially want photos inspired by mycooljeans. Full details here
PS They've got some great prizes sourced from Josh Spear's cool hunting site.