An event quite like no other, the annual Woolly Worm Festival takes place every year on the third weekend of October, and this festival marks the 46th year of the very popular event. The festival features crafts, food vendors, live entertainment, and much more. Past festivals have attracted an estimated 20,000 fans, 170 vendors and around 1,000 race entrants.That would be race entrants for the highly competitive (and occasionally scandalous!) Woolly Worm Races, perhaps the highlight of the entire weekend. First, though, the worms are thoroughly examined to ensure they ARE woolly worms. And they get named, if they don’t already have one. One official whispered: “We get some ringers sometimes!” After several “heats”, a winner is declared, taking home bragging rights and having the honor of predicting the High Country’s weather for the 13 weeks of winter. Each woolly has 13 segments, corresponding to each week. Sunday marks the Corporate Woolly Worm Race, wherein the winning woolly nabs bragging rights for its business sponsor. » Historic Banner Elk Elementary School, 185 Azalea Circle; Saturday 9 a.m.-5 p.m. & Sunday, 9 a.m.-5 p.m.; ticket prices vary; (828) 898-5605; www.woollyworm.com