Fire and Ice Winterfest draws large crowd for annual event KIFI Participant at Fire and Ice Winterfest in Lava Hot Springs, ID LAVA HOT SPRINGS, Idaho (KIFI) - Traditionally, Lava Hot Springs is known for bringing the heat, but on this specific occasion, the town turned into a chill zone. The Fire & Ice Winterfest is held each year in the town over the first full weekend of February. The event included a Children's Water Carnival, a Torchlight Parade, and the infamous Polar Float Parade on the Portneuf River. For Russell Davies and his friends, they look forward to the event every year.