Bred and raced by the co-owner and president of Saratoga Race Course, Richard T. Wilson, Jr., he was sired by Wilson's Olambala, a multiple winner of important races including the Latonia Derby and Suburban Handicap who also sired several top runners including the multiple Handicap winner Sunfire and 1922 Belmont and Preakness Stakes winner Pillory.
In addition, Campfire won the Futurity and Great American Stakes at Belmont Park.
His outstanding year led to his being retrospectively named American Champion Two-Year-Old Colt by The Blood-Horse magazine.
He won the Toboggan Handicap at Aqueduct Racetrack in New York City but did not win another race that year or at age four in 1918.
Retired to stud for the 1919 season, Campfire met with limited success as a sire.