Well, it's pretty much exactly what it sounds like and YOU are the contestant. Get your costumes and lose your dignity and compete in the regional competition to represent in the national championship.
The show was initially inspired by Air Guitar competitions and has spread across the country and the world with a series of events in dozens of major cities and a World Finals event in Finland. In Air Guitar, of course, competitors pretend to play an instrument that isn't there. Air Sex is similar, except competitors get up on stage and pretend to make love with a partner who isn't there. In Austin last year, the competitions were dominated by the city's top comedians and improv performers.Pictures from the New York competition can be found here.
Before you watch the video, be warned there is strong language and sexual content. Probably not something you wanna open at the office.