But this year, the event will have a new look.
And organizers of the festival hope the facelift will help change the perception that the fun is strictly for children.
In the past, Tar Heel Town was located between Wilson Library and Kenan Labs and was popular with children for having two inflatable moon-bounces, face-painting stations and school mascot Ramses at its pregame party.
But planners for the event, which has moved to Polk Place this year, said it did not attract many students in previous years.
This year, Tar Heel Town has a new director and therefore a new "mayor." Matt Roberts, who works in Athletic Sports Marketing, has replaced Jim Ervin as mayor and has plans for change.
"(Tar Heel Town) was perceived as a kids-only activity," Roberts said. "We want to gear it to be more of a pre-game party."
Toward that end, Roberts has added a number of new features this year to heighten the spirit and atmosphere of the pre-game festivities.
The most prominent one is that the entire North Carolina football team will walk through Tar Heel Town on its way from South Building to Kenan Stadium about two hours before every home game.
"We really want to get students out there for the team walk," Roberts said.