Blue and red ribbons for first and second place could be cool, after all the runner up did go through a lot to get here too. Although, if carf were to do that he'd have to swap up the colors because traditionally the blue ribbon was reserved for first place.
I think the runner up should be deserving of some recognition, he's just not gettin' any o' mai gold... *Hordes his pile of purdifull glistening coins!*