Smith says the winner of the battle will receive a giant golden cowbell, with the two celebrities raising money for Cancer for College and Little Kids Rock. The pair had previously raised more than $300,000 for the battle to occur.
Ferrell has been involved with Cancer for College, which has donated more than $2 million to college scholarships for cancer survivors, for 17 years. "It's a small, grassroots charity that doesn't really have a big platform in a way," says Ferrell. "So to get to do something like this on The Tonight Show is fantastic."
While prizes will be offered at a later date to raise money for the two charities, including a specially designed T-shirt and custom-designed cowbells, Smith also revealed a personal side bet. "If I win, he has to wash my car for a month and give me pedicures," says the drummer. "If I lose, I have to be his stand-in for his next film."
And even better, there's a t-shirt to celebrate the showdown, click the picture to order one