Photos of the Kentucky Derby show that the 'most exciting 2 minutes in sports' is back with fashion and fanfare

The horse race has taken place in Louisville since 1875 and is considered one of the longest-standing sporting events in American history.

In 2020, the event was held with limited spectator capacity in September after being postponed from its traditional date, the first Saturday of May. It was the first time since World War II that the Derby was rescheduled.

Also nicknamed the "Run for the Roses," the race marks the first leg of thoroughbred horse racing's Triple Crown.

The field is limited to 20 horses, but one horse, King Fury, has a fever and will not be participating, according to CNN.

The Kentucky Derby weekend starts with Oaks Day, which marks the racing of female horses. Spectators traditionally wear pink.

In recent years, people have been encouraged to wear the color in honor of breast cancer and ovarian cancer awareness.

The Churchill Downs venue is historically also adorned in matching pink bunting.

Fashion has been part of the Derby since its inception, but it wasn't until around the 1960s that over-the-top hats became a staple.

According to the Churchill Downs website, in the '60s, "society women wore increasingly louder hats and took pride and enjoyment in selecting one."

The website continued: "Patterns and prints were also brighter, and hemlines defiantly were raised, yielding a much different look than years before."

The Derby's famous drink, the mint julep, is made with bourbon, mint leaves, and sugar.

Some 120,000 of the signature cocktails are typically served during the two-day period of the Kentucky Derby weekend.

The official Kentucky Derby website states that all spectators, including those who are fully vaccinated, must wear face masks at all times at Churchill Downs.

Some photos also showed spectators getting their temperatures checked upon arriving for Oaks Day.

A spokesperson for Churchill Downs told CNN that attendance for the Saturday event is "40-50% (capacity) reserved seating, 60% in some premium dining areas, 25-30% in Infield. All in, around 40,000-50,000."

The Kentucky Derby website has a lineup of all the horses racing on Saturday.

Fans of Derby Day stretch beyond Churchill Downs — and it's likely that people are getting dressed up for the occasion even if they aren't in Louisville.

New York City-based milliner Dora Marra of Dora Marra Headdress told NY1 that over the last few weeks — leading up to the race — she's shipped and sold hundreds of fascinators. She said it's a contrast to a year slow in sales due to a lack of events.

Bright colors have seemed to reign supreme at the Kentucky Derby weekend, perhaps as an homage to spring and the return of a famed in-person event.

More updates can be found on the Derby's website.