The Indiana State Tricycle Derby was first run in 1963 as a 10-lap race around the sidewalks of the Quadrangle on children's tricycles. The races featured a men's and women's division (the Powder Puff Derby).
The races now feature men's and women's teams racing on specially built tricycles at Recreation East and the Michael Simmons Student Activity Center at Ninth and Sycamore streets the Friday afternoon before Homecoming.
Each team qualifies for the race prior to the actual Sycamore Tricycle Derby. The fastest male and female rider qualifying for the race is honored with the title of “Hot Wheels”.