Banner Elk Woolly Worm Festival

Worms racing? Yup, they race upwards on "lanes" of string, their coaches hoping to win fame and fortune (how does a $1,000 sound?) at the Banner Elk Woolly Worm Festival. The victorious caterpillar is then examined by forecasters who predict what kind of winter they're facing by interpreting the colors of the winning worm's bands. The worms supposedly have had an 85% weather forecasting accuracy record over a 24-year period.

source: http://www.2camels.com/