A basic Royal Rumble type setting, from what I understand. 2 Knockout's will begin, and after so many minutes another will enter, with battle royal rules (over-the-top eliminations) as well as pinfall or submission.
If I'm mistaken, then it's 2 Knockouts begin, with another coming in once one is eliminated. Although I read on the front page somewhere it's the battle royal setting more than an actual Gauntlet setting. So who knows.
Regardless, this match is more or less just a way to throw Velvet Sky into being the top face of the Knockout's Division once more.
Mickie James got her chance at the iMPACT! Champions night, and failed. Or rather came up just short. Tessmacher had her match/rematch, and lost just the same. So it would be pointless to continue forward with either of them.
Gail Kim is heel/tweener/pointless at this point - and thus, it makes no sense to push her against Tara.
That leaves ODB and Velvet... This is the only part of this match that even remotely makes me wonder.
While I can see ODB winning, I seem to recall a slight feud her & Eric had against Tara & Jesse; which leaves only Velvet to match-up against Tara, and once again circles back to how this match is being made solely to build up Velvet Sky as the top face of the Knockouts, since her return.