Established in 1965 as a successor to the town's late-August Old Home Week (itself started in 1911), it is hosted by the Yarmouth Chamber of Commerce, with the aim of raising money for approximately thirty local non-profit organizations, churches, and school groups.

[2] A section of the former population have made it a tradition to stake out their Friday-evening parade viewpoint with a chair several weeks before the event — even as early as May,[3] though this may be in an ironic fashion.

Booths offering food and drink and items for sale are set up from the First Universalist Church at its south-eastern end to Railroad Park, a mile to the north-west.

Examples include: the Barbershop Harmony Society, who offer Lime Rickeys; the Yarmouth Lions Club (Lemon Lucy slush),[4] the First Parish Church (strawberry shortcakes and various pies); Yarmouth Ski Club (whole fried clams); the Boy Scouts of America (pizza); and various grades of Yarmouth High School offer cheeseburgers, hotdogs, French fries, chicken fingers and soft drinks.

Other events include a parade on the Friday evening; a one-mile fun run (for children aged twelve and under) and a five-mile road race (ages thirteen and over; both on Saturday morning); a People's Muster and a clam-shucking contests (both on Saturday afternoon); a fireworks display (Saturday evening); a diaper derby (Sunday morning); and a professional bicycle-race (Sunday morning).