Oops, I didn't know it would be so soon. These guys are clever; they do it during the Nobel season!
Here is the Guardian story. Check it out, it's hilarious!
I really liked the Literature Prize for "the internet entrepreneurs of Nigeria, for using email to distribute a bold series of short stories, thus introducing millions of readers to a cast of rich characters ...", and the Physics Prize for "an experiment that began in the year 1927, in which a glob of congealed black tar has been slowly dripping through a funnel at a rate of around one drop every nine years". The others are good too.
Here is the IgNobel site.
Hat tip to Ramnath for the alert. He finds the economics prize to Gauri Nanda (for inventing an alarm clock that runs away and hides) noteworthy.