The trophy is named after Felix Salten's 1923 book Bambi, a Life in the Woods and its statuettes are in the shape of the novel's titular fawn character.

Frequent awardees include Heinz Rühmann (12), Peter Alexander, O. W. Fischer, and Johannes Heesters (10), Sophia Loren (9), Maria Schell (8), Rock Hudson (6), Franz Beckenbauer, Pierre Brice (5), and Céline Dion (3).

The award trophy was at first a fawn made of white porcelain, which was produced in the Majolika Manufaktur in Karlsruhe by the sculptor Else Bach (1899–1952).

The 2006 Bambi was awarded in the Mercedes-Benz Welt in Stuttgart, hosted by entertainer Harald Schmidt and model Eva Padberg.

In 2014, the Crown Princess Mary of Denmark received a Bambi in the charity category for her extensive work for women's rights.