The history of Iota is identified with Pointe-aux-Loups (French for Wolf Point), one of the oldest place names in southwest Louisiana, and the location of mineral springs that attracted many visitors beginning about 1858.

The older settlement was located on Bayou des Cannes about two miles west of the present Town of Iota.

The railroad company built a depot at a point on the line nearest to the Cartville and Pointe-aux-Loups settlements, naming it Iota.

The annual Iota Mardi Gras Folklife Festival attracts thousands of tourists and visitors, offering authentic Cajun food, music and crafts.

In contrast to the elaborate costumes and parades of urban Carnival krewes, in Iota and nearby rural communities like Tee Mamou and LeJeune Cove, Cajuns celebrate Courir de Mardi Gras.

Disguised with masks, costumes, and conical hats called capuchons, the townspeople travel through the surrounding countryside, making merry while begging for money and gumbo ingredients.