The Otter Lake Fishing Derby has been going on in Tapiola for many years now, bringing people from all over the western Upper Peninsula to go out on the ice. The fishing derby is a day of ice fishing on Otter Lake, where fisherman and kids compete to catch the biggest fish. Beginning at sunrise, fisherman haul in fish all day long using poles and tip-ups. Some people sat around the drilled holes with friends or family, while others drilled multiple holes and waited to see the flags from their tip-ups swing up across the lake. Regardless of method, most fished in groups and enjoyed the warmer weather. The derby took place on.