Advancing to the finals are number one seeds Ron Burgundy ("Anchorman") and Buddy ("Elf").
Ron originated from the Saint Diego region, where he handily defeated Nick Halsey ("Everything Must Go"), Chaz Reinhold ("Wedding Crashers") and Frank the Tank ("Old School").
As for Buddy, he made his way from the Arctic Puffin' region, taking out Federal Wildlife Marshal Willenholly ("Jay and Silent Bob Strike Back"), Chazz Michael Michaels ("Blades of Glory") and Ricky Bobby ("Talladega Nights").
(For those who haven't been following, the tourney is in honor of "Casa de Mi Padre," Will's latest film, and the NCAA Men's Basketball Tournament.)
UPDATE The Will Ferrell Tournament has ended. To find out who won, head here.
BRACKET (click to enlarge)