It's often described as Pinewood Derby on steriods! Small wooden cars race in pairs down a special track — except the track is level, cars are powered by escaping carbon dioxide (not gravity), and there's more speed!
A few more details:
Students convert a wedge-shaped piece of wood (about 12" in length) into a sleek racecar body using hand or power tools. Paint, wheels, and axles are added to make the cars roadworthy.
A pair of cars are placed on a 65-1/2' racetrack (track can be on the floor or a special elevated surface), and CO2 cartridges are inserted into holes in the rear of each car.
Cars are fitted to launching devices that puncture the cartridges to start the race.
The cars speed down the track and cross the finish line in slightly more than one second!
Race times are recorded to determine race pairings for a final round.