Mitarai Pond is counted as one of the Seven Wonders of Ducks because clear water springs up from around the pond and from the bottom of the river during the dog days of July. The rice dumplings made to resemble the bubbles of water bubbling up from the pond are also said to be the origin of the "Mitarashi dango" (rice dumplings with soy sauce).

It is believed that if you dip your feet in the pure water of this pond on Doyo no Ushi Day, you will be protected from epidemics and beriberi, and today the pond is bustling all day for 10 days before and after Doyo no Ushi Day, when the "Foot-Soaking Ceremony (Mitarai Festival)" is held, where people pray for good health and to ward off cancer.

On the night before the beginning of autumn, the "Yatake Shinji (Summer-Ending Shinji)" takes place at Mitarai Pond. This ritual is a purification ritual in which 50 arrows are erected in the center of the pond and naked men compete to grab them. The pond gets its name from the legend that Tamayorihime-no-Mikoto, the enshrined deity, retrieved an arrow, and it is believed to be a talisman for safe childbirth and prosperous business. Mitarai Pond is also where the purification ritual of the Saio-dai is held during the Aoi Festival (Kamo Festival).