This competition is friendly, though, and won't be waged on the gridiron.
The Denver Post reports that all three quarterbacks are involved with The Mask Project, a charity to benefit The Denver Hospice. As part of the project, celebrities, artists, sports figures and other high-profile names help decorate clay masks to be put on display at the Cherry Creek Shopping Center in the Mile High City. The masks are put up for auction, with proceeds benefiting the hospice.
The center features a collection of 500 masks, and bids can be placed online through May 13, according to the Denver Post.
The paper reports that local artist Jessica Stockmyer was commissioned for the artwork on Manning’s mask, bearing the Bronco horse and the team's colors.
Elway's mask design also features the orange, white and blue colors, but it has the "Broncos" painted in orange and is signed by the QB legend, according to Yahoo! Sports.
The website says Tebow's mask is a marble design incorporating the team colors, with the "Broncos" name resembling a watermark.
As of Monday, the highest bid for Manning's mask had topped $1,200, according to Yahoo! Sports, with Tebow running second at about $600 and Elway close behind at about $500.