Frost Frolic Holiday Market was founded as Frost Frolic Craft Bazaar in 1991 by the Fairbury High School Journalism Department as an annual fundraiser. Over the years the event has grown from a dozen vendors and 20 spaces to 60+ vendors and 110+ spaces. In the mid 2000s it was decided to change the event name to Frost Frolic Holiday Market. This change reflected the ever changing retail landscape to include independent sales representatives and other non-crafters. The event continues to draw 100s of customers each year. In 2014 after long time journalism instructor and event coordinator Diane Schutt retired from teaching, the successful annual fundraiser was looking for a new non profit organization to take over the event. The board of the Bonham Theatre Project took on the event as one of its annual fundraisers. Proceeds from the event help to reopen the Bonham Theatre in historic downtown Fairbury, Nebraska. In 2019, Frost Frolic Holiday Market passed to another non profit in Fairbury, Homeless No More Cat Rescue.
