I've never been there, but this little blurb from Wikipedia sounds like a real wham bam thank you Spam of a time! 
SPAM Jam (formerly known as Cedar River days) is a yearly festival of the popular meat product Spam. It is held in Austin, Minnesota, where Hormel food company produces the meat.
The festival spans from July 1 to 7 and includes fireworks, parades, games, a carnival, and of course, the mysterious meat itself. Each year, those who enter the city during the festivities are likely to see copious amounts of blue and yellow (the colors of the packaging), and myriad dancing men and women in large SPAM can costumes.
The 2005 event hosted such guests as Bill Nye the Science Guy, Kurtwood Smith, Jerry Turner the auditor and James Belushi. Highlighting the 2007 event is the second annual SPAM Fritters eating competition, with 2006 Champion David "Processed Meat Paws" Stauber returning to defend his title mark of 856 fritters (87.1 lb or 39.5 kg).
Hmmm...Spam Fritters...gotta look for a recipe on that one!