The Darkmoon Faire had some upgrades come World of Warcraft patch 4.3 and now it has its own island. With the advent of the Hour of Twilight patch, you can now visit the Faire out in their strange recesses–but you can’t fly there–and there’s a great deal of weird things going on.
Get tokens, get shot out of a cannon, have your fortune read.
A lot of things for any anthropologist to get up to.
The Faire is neat, but it really needs a bunch of minigames to be more than a brief amusement. This is where Blizzard could do some serious Warcraft/Popcap integration. Peggle, Zuma, Plants Vs Zombies, whatever.
Many people doing videos on this have been commenting that the games should help tide them over until Mists of Pandaria.