This is dodgeball with a hilarious twist. I have used this game in my Middle School & High School programs & they were very well received.
Instead of dodgeballs, use the Kooshballs or liquid filled Koosh-type balls.
Regular dodgeball rules, and add these additional rules:
1. If you are out, you stand on the opponents perimeter, behind the boundary lines. You may not return to the game.
2. Those who are out can have a ball passed to them and can throw out opponents.