Ultimate Jeopardy 1996 took place on October 5, 1996 in the ECW Arena in Philadelphia, Pennsylvania.The main event was an "Ultimate Jeopardy" tag team match pitting Brian Lee and Stevie Richards against the Sandman and Tommy Dreamer. The stipulations of the match meant that each of competitors would suffer a penalty if they were to be pinned. If Lee was pinned, his head would be shaved. If Richards was pinned, Raven would lose his ECW World Heavyweight Championship. If Dreamer was pinned, his valet Beulah McGillicutty would be forced to leave ECW. If the Sandman was pinned, he would be caned. Plus Bam Bam Bigelow vs. Terry "Bam Bam" Gordy, The Eliminators vs. The Gangstas for the ECW World Tag Team Championship, Buh Buh Ray Dudley vs. D-Von Dudley and much more.

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