Champions of the Ring is an online league for SmackDown vs. RAW 2011. To join, go here: http://cotrleague.forumotion.com/forum
And create a profile. From there, you will recieve a PM from @GM Ryan Lee, and from there you follow his instructions.
This is a PS3 only league, in which only CAWS are used. I joined this myself and I have alot of fun!