Sponsored by the Otago Daily Times, the family favourite had been revived because of a "strong call" from members of the public, festival manager Martin McPherson said yesterday.
"At the public meeting held earlier this year, and just in the feedback we've had about this year's event, there's a been a strong call to include a mardi gras. The younger set in town - people in their 20s - remember it with affection and it's one of those events that mums, dads, kids and grandparents all enjoy."
It will take place on Friday, September 24, from 7pm to 9pm and Tarbert St will be closed from Skird St through to Deel St.
The entertainment will include a best-dressed bike competition, "flying" cycle races, truck pull, festival king competition, bed races and music, and retailers will be invited to set up a sales table in the market area.
"This is part of our back-to-basics approach this year," Mr McPherson said.