A list of 50+ events will be posted on August 17th, and your team does as many of them as you can/want until August 25th. It's a fundraiser for The Resilience Project, and it's $50 for a team of 5 ($40 if you register before July 18th) - $10 or less each for a week of shenanigans that will light up your day and light up the days of the folks who cross paths with you.
There are lots of kid-friendly events, and if you aren't in the Corvallis area, you can still do the Games and delight the folks in your own community. Most events don't require all team members to participate at once, so don't worry about complicated scheduling.
The top 3 teams will be bestowed with gold, silver, and bronze medals. Think of how cool you'll look walking around town with a sweet medal around your neck.
Not sure? Be bold. Go for it. You'll be a force for good in the universe.