Most people remember the egg-and-spoon race but the egg-and-boob race is way funnier and more difficult - and Australia has the world's gold medal champions.

The city of Toowoomba in Queensland will play host to the Stripper Olympics this weekend as their only strip club raises funds for drought-stricken Australian farmers.

Vault co-owner Amal Doukari said the sports included jelly-wrestling, a dildo relay and the egg-and-boob race.

The egg-and-boob race, open to men and women, involves holding an egg between your breasts and running round a track. The Stripper Olympics is raising money for Drought Angels

'It's open for girls or guys,' she said.

'You have to hold an egg between your boobs and run around a track.'

The burlesque princesses will also auction off the plaster cast of a dancer's breasts that they created for a breast-cancer fundraiser for last year's event.

The charity event is to help out Australian farmers who have been hit by one of the worst droughts in living memory.

They are donating all funds raised to Drought Angels, a small not-for-profit that is providing care packs, food hampers, stock feed and hay to struggling rural families.

Vault showgirl and award-winning dancer Asia Maree chose the farmer's charity as the perfect cause for her tiny country town as she wanted to pitch in and help them.

Vault showgirl Asia Maree will be auctioning off a plaster cast of another dancer's breasts that was created for last year's Stripper Olympics charity: breast cancer research

'I've been seeing on the news, all the horrible things they're going through and I wanted to help them out a bit.'

Ms Doukari, who invented the Stripper Olympics, said she hopes to raise thousands for Drought Angels at the free-entry event which starts at 3pm on Sunday, and is followed by the NRL Grand Final.

Farmer Robert McBride whose family have grown wool for more than 162 years said he had lost 2000 sheep in the drought from their property, Tolarno Station, in South Australia.

'It's a catastrophic disaster we've never seen in our lives,' he told Daily Mail Australia.

'I'm so proud of these ladies as an example of how wonderful the Australian people are in trying to help us,' he said.