The fun begins at 4 p.m. at Cherokee Casino Will Rogers Downs in Claremore.

This year's event includes arts and crafts vendors, a Little Mr. & Miss BalloonFest pageant and a cupcake contest, among other activities.

The Gatesway Foundation is a non-profit Oklahoma agency established to encourage independence and provide opportunities for people with intellectual and developmental disabilities.

CEO Judi Myers says most of the organization’s money goes to paying staff salaries, so major improvements require fundraisers like these.

“The Balloon Festival for the last 19 years has been the major fundraiser for us.” Myers said. “This year we’re fundraising for a 16 bed home here on campus.”

The funds will also go toward a multipurpose building which will have a full kitchen, an art room and a music room.

Parking and admission are free both days because most of the fundraising takes place beforehand, with sponsors going out on balloon rides before the actual festival takes place.

One of those sponsors is an old childhood favorite: Wonder Bread. Wonder Bread and balloons actually go way back.

In 1921, Elmer Cline went to the Indianapolis Speedway. Cline was charged with naming the new bread they were launching and when he saw the wonder of the gas balloon launch, the Wonder Bread name was born. The dots on the package were originally there to represent hot air balloons.

Wonder bread is even giving people the chance to win a trip to another balloon festival: the New Mexico Balloon Fiesta. If you see the Wonder Bread hot-air balloon during the Gateway Balloon Festival, simply snap a picture and tweet and post it on Twitter and Instagram with the hashtag #spotthewonder and you will be entered to win.

The Gatesway Balloon Festival began in 1994 as a "thank you" to the community and has continued every year since, except in 2004.

The event continues Saturday from 7:30 a.m.to 10 p.m.

More information here.