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Cancelled Comic Cavalcade featured a two-volume collection of unpublished stories, artwork and other material that was originally slated as "next issue" stories for over thirty-five comic book titles which were discontinued as a result of the 1978 DC Implosion. The purpose of the collections were to preserve copyright on the material, despite it being from cancelled comics.

According to an introduction to the books (later reproduced), a total of 35 copies of the two volumes was produced, 34 of which were distributed to artists and writers, and a 35th copy given to the publisher of the Overstreet Comic Book Price Guide "to show the world it actually happened." The two books are, as a result, highly sought-after collectibles.

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