The loser funds a replica championship ring, gaudy, oversized, engraved, for the winner, presented in a ring box at the draft with a short speech. The champion wears it to every league event forever. The loser's name is sometimes engraved inside the band as 'sponsor'.
Budget note: this is one of the expensive ones. Decide before the season whether the loser pays, the pot pays, or the league splits it, and write that down. Money arguments kill leagues faster than collusion.
Seen in the wild: fantasyfootballunlimited.com