This has a remarkable use of perspective as well as a very effective composition that draws your attention to the character in the yellow shirt (whom I think is from the movie Treasure Planet).
It has a very cheerful feeling and the fact that those subtle details in the background indicate that the party extends beyond the horizon serves to make it feel epic.
I think it would be useful to give it more thought to the anatomy. The left arm and the left leg of the guy on the yellow shirt look kinda broken.
On another note, on my end it appears that you submitted this the day after the dead line, the 21 of this month. I really hope that it is just a matter of different time zones since it would be a really good contender.