(the above image unethically stolen straight from Blizzard's site)
After totally screwing up the moonkin pet and Make-a-Wish where half went to charity and half straight to Blizzard's pockets, Blizzard learns most of their lesson with the Cenarion Hatchling for Japan.
For every Cenarion Hatchling purchased between now and July 31, 100% of the $10 USD adoption fee will be donated to the American Red Cross's Japan Earthquake and Pacific Tsunami relief efforts. This support will enable the Red Cross to provide shelter, food, emotional support, and other assistance to victims of this disaster.
About the only thing wrong here is that it'd appear the Hatchling will continue to be sold for cai$h after July, and Valve's fundraiser headgear went kaput once the fundraiser was over. But now I'm splitting hairs. Sorta.
EDIT: Okay, I'm not splitting hairs. Why every pet doesn't give all $10 to the Red Cross right now, I don't know. I like the Monk, I'd rather have the $10 goes somewhere useful, but it's straight cash to Blizzard's pockets. I really prefer the Valve, get it for a donation or don't get it at all, remember this the next time you sit on your hands hard sale better.