Entering its 29th edition, the phenomenon has become one of the Upper Hunter's most anticipated events with thousands flooding into the town over three days.

Headlined by the annual "Running of the Sheep", which are all fitted in red socks, and boasting a Woolstock theme that will see a burst of strong, psychedelic colours, the latest instalment is set to be as big as ever.

There is a flow-on effect from the festival, too, with Merriwa tourism and events coordinator Peta Luke revealing how beneficial FOTF is to the surrounding areas.

"It's hugely busy, it's a great opportunity for the town to showcase what it's got in the area," she said.

"All of our accommodation, throughout all of the industries, is completely booked out.

"We bring about 5000 to 6000 people into town, which is a great opportunity for them to see Merriwa because some of them will stay here for up to a week."

The event's popularity is set to help the likes of Scone, Muswellbrook and Denman as a result of its expected large audience.

It is an agricultural drawcard like none other for the region, and committee president and Upper Hunter Shire councillor Ron Campbell said it's an amazing accomplishment given their small size.

"We've got a pretty small committee but we're a great committee and it's been good to work with them," he added.

"We're looking at thousands to come in during the festival, particularly on the Saturday.

"The streets are just lined with people and it's a really great event."

The scope of the festivities is certainly something to behold, with vintage vehicle displays, CWA (Country Women's Association) morning tea and lunch, a dog high jump competition, a jumping castle and games for kids and a multitude of other entertaining events being on hand for the public to enjoy.

The event is free, and runs from June 7 to 9, kicking off with the opening at 6pm on the Friday and 8am over the weekend.