Three Brazilians, Victor Marx, Eduardo Dencker and Marcel Aires have launched Desencannes, a website collecting unpublishable ads.
The idea is to engage the entire Brazilian advertising community, invited to submit the best of their worst ads (or viceversa?). Even if the site is in Portuguese/Brazilian, I'm sure you'll find it wit and entertaining. The graphics is excellent, just click on "Perolas" on the left side menu to access the collected ads.
Desencannes is also a festival which in the next months will assign its prizes.