When the bands converge from all parts of the country and congregate for Lollapalooza, something new, something remarkably unique and unforgettable happens. At the center of this phenomenon is the quirky, large lollipop, the "lollapalooza" as it was called by turn of the century Americans: part of the logo of this music festival. It is an experience so extraordinary that music lovers relive it over and over, nostalgic over every element of this famed musical extravaganza. Lollapalooza, the word, besides meaning "large lollipop," comes from an all-American idiom of early last century—Lollapalooza referred to something or someone remarkable or wonderful. "Lalapaloosa" or "Lollapalootza" are a couple of variants of this quaint, folk term, which is archaic but playful. Only an artist could breathe new life into it. Perry Farrell heard it in a Three Stooges film, picked up on the euphonious quality of the word and gave it a day, a place and many artists and their fans.

In 1991 Perry Farrell came up with the idea of Lollapalooza as a farewell tour for his band Jane's Addiction. Lollapalooza has attracted many bands over the years—the genres represented for the most part are: alternative rock, hip-hop and punk rock. There are also comedy and dance performances and arts and crafts booths. Lollapalooza offers a safe space and a reliable forum for nonprofit organizations and groups with a cause: political, environmental, or social.

Thanks to Lollapalooza, many bands have received exposure and gained the attention of recording companies, agents and fans. Among the bands that have received worldwide recognition and critical acclaim, are Pearl Jam, Red Hot Chili Peppers, The Smashing Pumpkins, Nine Inch Nails and Hole, would never have appeared on the mainstream music scene if it not were for Lollapalooza.

Lollapalooza ran successfully for years until lack of funds made it hard to continue the festival, and in 1997 the festival temporarily terminated. But its widespread popularity spurred a comeback. This revival happened in 2003 and the festival toured North America. Due to its popularity, the organizers decided to expand its scope in 2004 and to hold the festival for two days in each city it was touring. The plan was too unwieldy to materialize, and finally, in 2005, Perry Farrell and the William Morris Agency collaborated with Capital Sports Entertainment, a company based in Austin, Texas. Together they revamped the festival to its present format as a weekend destination festival in Grant Park, Chicago Illinois.

Lollapalooza has the historical distinction among other famous music festivals in entailing US as well as Canada. The lineups in Lollapalooza have included not just the musicians across various genres but also performers of every stripe. Festival attendees are amazed at the variety and quality of stars such as the post-punk group Siouxsie & the Banshees and the rap legend Ice-T and entertainers such as the Jim Rose Circus Show. Lollapalooza's success lies in the hearty enthusiasm with which it is put together and the excitement that the performers and the throngs of ardent fans bring to it.