The Ikarian paniyiri, one of the main cultural events in the island of Ikaria, has always acted as an important social process with various functions. Currently, it has also incorporated another role, acting as a cultural product aimed for touristic attraction. This transformation has affected the musical and dancing performance in the paniyiri, and especially the performance of the “ikariotiko,” the local dance of Ikaria. This presentation explores the multiple functions of dancing in the Ikarian paniyiri, the redefining of culture in a globalized setting, and also the process of participant integration through an intersubjective interpretation.