An estimated 175 people braved the bright but icy conditions in Teignmouth on Boxing Day to take part in the annual Walk In The Sea in support of the Royal National Lifeboat Institution.
Up to 2,000 are thought to have watched from the sea front.
Most of those braving the chilly waters turned out in fancy dress although winners Henry Miles and Lucy Mort proved that less can definitely be more with their Adam and Eve outfits.
They were considered to be the best of a magnificent bunch by judges Richard Younger-Ross MP and Teignmouth Mayor Cllr Fred Tooley.
The award for best children's fancy dress was given to Haari Aswati, aged five, from Teignmouth, who dressed as Father Christmas.
On the day the dippers raised £1,285 and, according to RNLI spokesman Roger Hawkins, there are still 150 sponsorship forms to be returned, bringing the prospect of a bumper cash windfall.
He told this newspaper: 'The weather on the day was fine and sunny, but a 20mph cold easterly wind added a considerable chill factor and caused the sea conditions to be quite challenging.'
The chairman of the Teignmouth RNLI fund-raising team, Celia Barrett, thanked those who took part and for making the event 'such a colourful Boxing Day spectacle for the town'.
Also present was Bristol man Dan Hillier, 62.
Earlier this year, Mr Hillier suffered horrific chest, arm and leg injuries when his jet ski was in collision with another. He spent 14 weeks in hospital and is unlikely to return to his job as a mechanic.
He owes his life to the swift action of the RNLI volunteers who rescued him.
Speaking on his behalf, his wife Anne, 53, said: 'It was absolutely wonderful to be there and it has really helped Don with his recovery. It was quite an emotional time.
'The reception we got was so warm and the crew so professional. We are just so grateful to them and the mad fools who went into the sea to raise money for them.'
Crew member Charlie Woolnough said: 'It's a very personal experience being rescued and being the rescuer and you tend to form a bond with the person quite quickly. Often we never see the casualties again and sometimes wonder what happened to them following the incident.
'It's also nice to get a thank you now and then as it makes all the training and interruptions to your life more worthwhile.'