We played this at the late July MN war and it ended up being a hit. A few PM's asking about it later and I thought it was worth sharing.
SOOOO...

The basic premis is the same as deathmatch in that everyone has 3 lives. As see here represented by balloons.

The DIFF is that in the game when you get hit 3 times you are not out: you become a bomb and still have the power to knock others out of play.

So here is the game: first everyone ties 3 balloons to themselves like a gang of baus.

Then loose like 15 lbs...F.
THEN run around in free for all fashion! Once you are hit you pop a balloon. There should be no camping because there should be someone on your ass every second of the match.
Once you have lost all your balloons you ARE NOT OUT: you are free to play at a pace as intense or as liesurly as you please. You cannot win, but you sure as hell can tag people who still have balloons and influence their demise.
Fun on many levels, and the rules and objectives are such that it is hard for DOUCHBAGGERY to occur naturally.
Preparation cost is $3-$4 at a dollar store. You can expect much Mario Madness and hopefully pictures of grown men looking foolish at The HellaWeen Warfestravigasm 2011.