Heyo!
Basic way this works, ragraphx will post a basic environment layout (if he decides to use one again, sorta like how he did for the second one that was beach-themed). Each artist taking part will be required to provide a .PNG (so transparent background that can sit overtop other pieces) of their character of choice (in this case, he wants us to draw ourselves with something that relates us to our comics, whether it's our character's weapon or outfit or whatever it is) and then post it in the thread he will make for the event on August 1st (not in this thread lol).
You don't have to have your character ready for the first, but you do have to have it in by August 31st if you want it to be included in the final piece. He's just letting us know early so we can prepare ourselves beforehand.
That's pretty much the gist of it! Remember that the theme this time is a drawing of yourself with some element of your comics as a part of the drawing (ex. a character's weapon, necklace, accessory, maybe a visible ability, etc.) Also, be sure to provide the file as PNG so it's easier for him to put the drawing in with everyone else's (: