Fantasy Farm was founded by former LeSourdsville Lake owner Edgar Streithau. The park was built on 20 acres of land adjacent to LeSoursdville Lake Park that was owned by Edgar, but not sold off as part of the LeSourdsville Lake transaction. The park grew into on of the largest kiddie parks over the years. In 1982, Edgar was 86 years old and operating the park became too difficult. He sold the park to William Johnson a local carnival operator. William continued to add rides through 1987 and then operating costs forced William to removed rides over the next years. In 1991, William decided to close the park and auction off the remainder of the rides.