Maley eventually decided to initiate an independent musical event, inspired by Olympia's earlier International Pop Underground Convention (IPU),[1] a highly regarded 1991 festival that has been deemed "a watershed moment in indie rock".

[2][3] After the unexpected international success of area favorites Nirvana and their album Nevermind just months later, there was a widespread feeling in the scene that "homespun events" like the IPU simply could not take place anymore.

[4] A musician himself, Maley organized the Yoyo festival with help from drummer Kent Oiwa, graphic designer Pat Castaldo, and local disc jockey Michelle Noel.

[2] Candice Pedersen, co-owner of K Records and another key Yoyo organizer, explained that the point of the festival was not to maximize publicity or sales, but to share and enjoy a communal endeavor: "[S]ee all the bands, have a good time, meet a lot of people, and treat each other well".

"[2] The Olympia scene was riding a wave of interest from major media who were giving close scrutiny to the Pacific Northwest in the wake of Nirvana's international success.

[8] Dozens of independent bands played at Yoyo 1994 including Beck, Bikini Kill, Heavens to Betsy, Mary Lou Lord, Team Dresch, Lois, Go Sailor, the Spinanes, Mecca Normal, Some Velvet Sidewalk, the Halo Benders, Cub, Slant 6, Neutral Milk Hotel, Unwound, and Tattle Tale.

[3][11] The pair played a set with the Stinky Puffs, led by ten-year-old Simon Timony, and joined by Ira Kaplan (of Yo La Tengo) and Jad Fair.

A solemn moment for the festival came when Timony offered a memorial song he wrote for Cobain: "'You rode off into the sun / but I love you anyway,' he sang in a preteen falsetto, while Novoselic towered behind him, playing stone-faced.

[2][6] Among the varied entertainment was an a cappella performance piece by artist Nikki McClure;[6] a puppeteers' rendition of The Gong Show;[2] a string quartet conducted by composer Timothy Brock;[6] a ukulele recital by Khaela Maricich;[2] and an outdoor nature walk designed specifically for punks.

[1] In total, over fifty bands played over the six-day event, including Make-Up, Dub Narcotic Sound System, The Donnas, Quasi, Tullycraft, Dead Moon, Marine Research, Thrones, Bonfire Madigan, and Mecca Normal.

The album features twenty live tracks by festival performers, followed by a zestful five-minute recording of Negativland leading the crowd in a recitation of Casey Kasem's notorious and profanity-streaked diatribe: "This all means diddly-shit!

[20] Also appearing were Erase Errata, the Evaporators, Mark Robinson, the Microphones, the Mountain Goats, The Cannanes, Tracy and the Plastics, Mecca Normal, and the Selby Tigers.