[1] The origin of the name is unclear; it first appeared on a 1921 United States General Land Office map of the area describing the valley created by Skunk Creek.

Turf Paradise, a horse racetrack and Wet'n'Wild Phoenix, a 35-acre (14 ha) waterpark and the Arizona's largest theme park are both located in Deer Valley.

The Central Arizona Project canal carrying water from the Colorado River at Lake Havasu to Phoenix and Tucson passes through the village.

[3] The park is located behind Adobe Dam in an area primarily designated for flood control.

The park includes a sports complex for softball and sand volleyball, a golf course, kart racing track, a radio-controlled aircraft flight facility serving an AMA-chartered model aircraft club,[9] a paintball field, and a 44-acre (18 ha) large scale model railroad.