Operating since 1978, this beloved event celebrates the red and black woolly worm caterpillar and its legendary winter predictions. Every year, this unique festival has delighted attendees with woolly worm races, crafts, live music, and delectable food vendors. Legend has it that the winning worm of Saturday’s race forecasts the severity of the upcoming winter, earning its handler a grand prize of $1000. Sunday’s races continue the excitement with a $500 prize for the victorious worm. With over 175 craft vendors offering diverse goods, along with games and lively entertainment, the festival promises a festive atmosphere for all ages. Held during the peak autumn leaf viewing weekend in Banner Elk and the Blue Ridge Mountains, this event draws more than 20,000 attendees annually. » Downtown Banner Elk, 185 Azalea Cir. SE; Saturday, 9 a.m.-5 p.m., Sunday, 9 a.m.- 4 p.m.; $6 for adults, $4 for children 6-12, free for children under 5; (828) 898-5605; www.woollyworm.com