It's the award that the winners get after a competition played on frozen water. You folks have your gaudy dinner plate sized belt buckles and bejeweled saddles for rodeo champs. Same idea.
Can you imagine the size of the belt buckle they'd need if they issued the same one every year for over 100 years?
A saddle? After all these years there isn't even a Percheron or Clydesdale be able to wear one after 123 years.
Geno