Pony Swim Week is a major event here.  The ponies on the Virginia side of Assateague Island are cared for by the Chincoteague Firemen, also known as the Saltwater Cowboys.  During this week, there is a small town carnival hosted by the firemen.

Made famous by Marquerite Henry's "Misty of Chincoteague"

Festivities kick off the Saturday before the Pony Swim with the Southern Herd Roundup and finish the Friday after the Pony Swim when they swim back to Assateague.

The highlight is when the Saltwater Cowboys swim the ponies from Assateague Island to Chincoteague.  The ponies stay at the carnival grounds for two nights.  On Thursday, some of the foals are auctioned off, and on Friday, the remaining ponies are swum back to Assateague (known as the Freedom Swim).