The definition of Quintana comes from the 5th road of the Roman military camps, where the soldiers were trained in lance fighting.
The knights gallop on horseback at high speed around a figure-of-eight shaped track, and must spear three rings.
The oak statue dates back to 1613, and represents Mars "God of War" from ancient Greek mythology.
It holds a shield with the symbol of Foligno, and the ring is attached on an outstretched arm ready to be speared.
Over the Quintana weekend a number of festivities take place involving the whole town, including a parade with 800 characters dressed in 17th century costume on the day before the Ring Joust.