The first Powder Puff Derby was held in 1929. It did not resume until after World War II, in 1947.
Thanks to Ebay, I've just acquired Powder Puff Derby: The Record (1947-1977). Edited by Kay Brick. AWTAR, Inc. 1985
Tells the story of the Derbies in 80 oversize pages. Lots of photos of the participants, in such dated hairstyles and clothing! Still they look a lot better than the grunge style of today's teens, I gotta tell ya.
Anyway, it's been fun to read through, and interesting. One of the reasons why the Derby stopped was that it was an all-women's race and a couple of guys sued for descrimination, wanting to be allowed to race also. Tit for tat, I suppose - this was when Title IX was trying to get passed. Anyway, defending such a lawsuit cost money, also there were changed in laws limiting locations they could fly over (getting worse and worse every day, by the way.)
I'm inputting the names of all the participants at the Women Aviators Wiki.