The name is derived from Baneshwar, a revered Shiva Linga, which is kept in the Mahadev Temple in Dungarpur. "Baneshwar" means "the master of the delta" in the local Vagdi language and this name was given to Shiva Linga. The Baineshwar Fair is held at a small delta formed by the rivers Som and Mahi, from Magh Shukla Ekadashi to Magh Shukla Poornima. These dates are arrived at by Hindu calendar. The Bhils, local tribe, assist in Baneshwar Fair and sing traditional folk songs with loud voice while sitting around a bonfire each night.
Cultural performances are arranged by the clan's youth. Groups of villagers are also invited to participate in the program. The fair echoes the cheerfulness of songs, folk dances, magic shows, animal shows and acrobatic feats. In addition to the above activities, wooden horse ride and joy rides on the swings are also means of entertainment. A large number of shops at the fair provide an opportunity to buy and sell necessities and cherished items.