The Ranfurly Shield
The Ranfurly Shield, colloquially known as the Log o' Wood, is a trophy in New Zealand's domestic rugby union competition. First played for in 1904, the Ranfurly Shield is based on a challenge system, rather than a league or knockout competition as with most football trophies. The holding union must defend the Shield in challenge matches, and if a challenger defeats them, they become the new holder of the Shield.
The Shield is currently held by Canterbury, who won it from Southland in Round 11 of the Round Robin in the 2010 NPC. Although the professional era of rugby has seen competitions such as the National Provincial Championship and its successor, the ITM Cup, and Super Rugby detracting from the pre-eminence of the Ranfurly Shield, many still regard it as the greatest prize in New Zealand provincial rugby, thanks to its long history, the fact that every challenge is a sudden-death defence of the Shield, and that any team, no matter how lowly, has a chance to win.
from:
http://en.wikipedia.org/wiki/Ranfurly_Shield