Introduction to the Siena Horse Racing Festival: The Siena Horse Racing Festival (Palio di Siena) is held every year on July 2 and August 16 in Siena’s Pastoral Square. During the festival, it is the happiest and most joyful time in Siena. Noisy days. The organization of the event reflects the management characteristics of the Middle Ages: there are 17 districts in Siena, each district has its own mascot, church, and banner. Each parish sends its own knights during the competition. There are no strict rules in the process. The knights Run around the square and compete for a pennant (Palio). The fierce competition scene at the beginning of the 007 movie "Quantum of Solace" comes from here.