It's a shot that a lot of people use from the playing surface anyway. Alternatively, a 3-iron also works great on greens. From the tee, a well-hit 3-iron will provide a decent distance and reliable accuracy. If my driver is playing, I often go to iron 3 to try to find some streets.
Most likely, it will take a 3W, 7i and 56*. If there weren't really long par 4s or really long 5s, I might even consider putting a Driver instead of the 3w ones, since I hit each one with the same precision from the tee. We may have learned something about being more creative with shooting, or that it doesn't make much sense to slow down the game with an agonizingly deliberate club selection when one does as well as another. I was a better shot with three sticks after nine, and Jerry two strokes; the last fall of nine could have been attributed to tiredness and increasing darkness.
I was just telling a friend of mine (who is a very respectable golfer) that my local golf club sometimes hosts 3 club tournaments where he is only allowed to bring three clubs and his putter. Without elaborate technical tests, there is no way to compare the relative frequencies of my clubs in the absence of a local competent club installer. The 8 is my club from 150 yards and the wedge is good from 125 and inside (and everyone will have three quarters, half and fourth at some point in the round as well). We take turns doing the skill test, for example, from a certain distance, what is the lowest club you can hit in a water hazard.
However, the three clubs you use for this challenge can vary greatly depending on your playing preferences and what your handicap is. In response to a Twitter message about a three-club challenge, I took this one out of the fairly recent archives. The hybrid will have a dual function, both off the tee (I hit 215 with that stick) and off the street. But those old clubs were hard to hit, and I basically ended up playing the whole round with three clubs, in the end it didn't go much worse than with my normal weapons of gross destruction.
I think you would have problems with the driver because you can't use the stick off the street or rough for longer shots, you would also have much more control with a hybrid. After that hole, the winner selects 3 clubs and everyone must use those 3 clubs on the second hole. I spend much of my life deliberating on the few sticks I could carry (in a pencil bag) and still achieve the extraordinarily high standards I set for myself.