The theme for the 2006 South Pasadena Tournament of Roses float is Magical Mischief. The dates listed on the website are still from last year; the date given for the beginning of ongoing construction last year is October 1. I imagine that the date this year will be close to that, which means it's just a little over a month away.
The deadline for the design contest comes early on in the year. This year's deadline was January 25. So if you want to throw your hat in the ring, you don't have much time once the new year is ushered in.