This Sunday is the 35th annual anniversary of the Heart of the Beast's May Day Parade, Ceremony and Festival at Powderhorn Park and neighborhood in South Minneapolis. The activities are scheduled between 1 and 7 PM.
This event is quite entertaining and popular. It draws large crowds, so if you're planning to attend I suggest finding a parking spot in the neighborhood very early in the day, or walk or bike to the park.
I live only a few blocks away from the park. I've not attended this event regularly, but my wife and and I saw the ceremony and parade three years ago. The parade draws a lot of eclectic participants, including art cars, novel (tall!) bicycles, and local performance artists.
This year the local weather looks good (partly cloudy) but it seems that it has rained on the day of this event quite often.