The Carousel began its colourful life in bustling 19 ^th century New York. Markings on the saddles indicate that the horses are rare hand-carved Dare horses. The Armitage-Herschell Company of New York manufactured the Carousel in 1892.

The Carousel was a mainstay at the Mordialloc Carnival between the 1920s to the 1950s. A used ticket butt from this period was found inside one of the horses during restoration. Restorers also found evidence that the Carousel went on the road as part of a travelling carnival.

The Carousel was finally dismantled and left in a paddock at Echuca before being auctioned and stored at Castlemaine. A vintage car restorer, Rick Furlong, heard of the existence of the Carousel, and despite having no prior knowledge of carousels, he was intrigued and decided to purchase it.