Since the 1960s, folklorism has become an important orientation of international folklore studies, its main area of concern being how the third person utilizes folklore in modern societies. The goal of this paper is to employ an enhanced definition of the third person to describe and analyze a renowned temple fair known as the Dragon Plaque Festival (Longpaihui), which is held in Fan Village (Fanzhuang) in the northern Chinese province of Hebei. Fan Village has become an important site for Chinese folklore studies investigations since the 1990s, in large part due to the growing popularity of the Dragon Plaque Festival following China’s enactment of market reforms. This paper presents a detailed description of the Dragon Plaque Festival’s organization and ritual process, as well as the ways in which they have changed over time. It also analyzes various interpretative texts about the festival, such as one claiming that the dragon of the Dragon Plaque is the mythical figure Goulong. My conclusion is that the Dragon Plaque Festival originated in the complex interaction between many heterogeneous groups, including worshipper associations doing goodness, officials, local elites, and outsiders. As a result, the Dragon Plaque Festival meets the needs of these different groups, but in varying degrees. Multiple interpretative texts and occasional incongruence between interpretative texts and ritual practices strengthen beliefs about the Dragon Plaque while also causing them to fissure. The flourishing of the Dragon Plaque Festival involves mammoth celebrations featuring differentiated symbols, which are of deep concern to the worshippers from the villages, towns and counties that constitute the ritual’s social networks. The traditional Dragon Plaque Festival is now being both reconstructed and utilized by a diverse range of. groups that are gradually transforming the ritual while also constructing their own subjectivity. Thus, we can see that popular religion is more than the mere binary relation of gods depending on people and vice versa; instead, the interpretative texts vocalized during these events play a key role in reproducing the diverse meanings of a ritual event. Based on the views expressed above, this paper further rethinks basic concepts such as “folk” and “lore”, and argues for the heterogeneity of the “folk” in folklore traditions, as well as the mutual subjectivity of heterogeneous groups, the gradual change and accommodation of “lore”, etc.