The town features numerous small hotels, bed and breakfasts, and campgrounds that serve visitors to the region, such as those patronizing the beaches. The island also features many restaurants, ice cream parlors, and miniature golf courses. The island contains two museums: Beebe Ranch, and the Museum of Chincoteague Island. With the designation of the nearby Wallops Island Flight Facility as the launch site for the Antares rocket and Cygnus cargo module used to resupply the International Space Station, there are large influxes of tourists whenever an Antares launch occurs.
In the Pony Penning, which has been held annually since 1925, horses swim across the shallow water between the islands. If any animal is too small or weak to make the swim, it is placed on a barge and ferried over. All the horses are herded into large pens after running through the middle of town and down Main Street. Pony Penning takes place on the last consecutive Wednesday and Thursday in July. The actual swim occurs on Wednesday, the Chincoteague Volunteer Fire Companyauctions that year’s foals on Thursday, and on Friday the remaining ponies swim back to Assateague.
Source:
https://en.wikipedia.org/wiki/Chincoteague,_Virginia