There is no trophy, the winner receives the green jacket.
It is a tradition of the Masters Golf Tournament since 1949. The green coat is the official attire of the Augusta National Golf Club. When players win the Masters they become members of the exclusive club for a lifetime. For a year after winning the Masters the champion keeps the jacket. After that they return it to the club where it stays until they return to play. The winner of the tournament in the previous year puts the jacket on the new winner by tradition.
In 2009 Angel Cabrera got $1,350,000, the green jacket, a life time exemption to The Masters and a five year exemption on the PGA Tour.
Sam Snead won the first Green Jacket, the symbol of the Masters champion in 1949.
The Masters jacket always fits the winner because they have more than one jacket stored away for the presentation. It is not like they only have the one and they pray it fits the winner. Simply before the presentation in the Butler cabin the tournament organisers would ask the Champion their jacket size and then get it so they can present it to him.
Trevor Immelman won the 2008 Master tournament and was awarded his green jacket.
The green jacket, actually a blazer, is the official jacket of members of Augusta National Golf Club. The winner of the masters becomes an honorary member and is therefore awarded a green jacket of his own.
The head master of the golf club.
The first Masters was contested in 1934 and was won by Horton Smith of the United States with a score of -4. Smith also won the Masters in 1936.(Smith did win the Masters Golf Tournament, but the First Green Jacket
The Masters where they give the famous green jacket and The Verizon Heritage, where they give a tartan jacket. Jackets are also awarded at a umber of other tournaments including: Pheonix Open, Arnold Palmer Invitational, The Traveler's, The Greenbrier Classic, The St Jude Classic (blue and white) and the Australian Masters (yellow).