This is a big medieval market and a jousting tournament with knights in (shining) armour that takes place every July at the Kaltenberg castle, about 50 km from Munich.

The Kaltenberg castle belongs to HRH Prince Luitpold of Bavaria (who happens to be next in line to the Bavarian throne) and he lives there with his family.  He is also the CEO of the "König Ludwig Schlossbrauerei" brewery which brews its beers there. You can of course try the beer at the Kaltenberg medieval market stands or the Gasthof restaurant.
You may even catch a glimpse of Prince Luitpold himself, he usually gives a little introductory speech at the start the tournament.

At the market you can taste medieval culinary specialities at the stands like suckling pig roasted over an open fire or honey mead.
Don't miss the artisan stands where you can for example see potters making stoneware (which you can order personalised as you like) the way they did 500 years ago and burning them in kilns right next to their stands or seamstresses making medieval robes you can buy to wear at the festival. 

If your taste runs to medieval music, you will be happy to know that several ensembles will be performing on medieval instruments.

For the kids there are several activities planned throughout the day like jugglers walking around the market, magicians in medieval costume, a petting zoo with tame sheep and goats and treasure hunts.
At the day events there will be a special kids' tournament after the knights' tournament, with jousting and camel riding. All kids who take part will get a prize certificate handed over to them in a prize-giving ceremony in front of the royal seats, just like the knights in the real tournament.
Be prepared to have to buy your little girls pleated silken coronets with long trailing coloured ribbons (10€), every girl wants to be a princess and as soon as they spot them you won't stand a chance, especially since most of the other little girls will already have one. Have a look at the coronet the girl on this page wears, that's the one. 
Your boys will probably petition you to get one of the bow and arrow sets. Just don't say you weren't warned...

Before the start of the tournament a procession of people in costumes from all the walks of medieval life, from juggler over tradesman to noblemen and ladies will pass through the market place accompanied by medieval music and make their wending way to the tournament arena. 

Web site in German: 
Please see here for the web site machine-translated into English.

There are three types of events:

  • day events with admission to the market at 11am and the tournament at 3:30pm. After the tournament there is a kids' tournament.  
  • evening events with admission to the market at 4pm and the tournament at 8pm
  • Night of the jugglers, acrobats and troubadours, with no tournament. The best performer receives the title of "King for the night" and a prize handed over by HRH Prince Luitpold.

Dates and prices

  • Day event, with knights' tournament: 14th, 20th, 21st, 27th and 28th of July 2013. Additional kids' tournament after every tournament on a day event
  • Evening event, with knights' tournament: 13th, 19th and 26th of July 2013
  • Night of the jugglers, acrobats and troubadours (no tournament) = Gauklernacht: 12th of July 2013

You can buy tickets online or directly at the entrance. The basic tickets which offer standing room at the tournament never run out so you can buy them when you get to Kaltenberg. If you want to have a seat at the tournament it is however advisable to buy them early on, they can sell out quickly, especially the good seats.  

Prices start at 22€ for entry to the market and standing tickets for the jousting tournament, and go up to 59€ for the best seats (= Loge, i.e. under a rain roof) in the jousting arena.

For the Night of the jugglers, acrobats and troubadours you would have to get tickets (25€) well ahead, it sells out quickly.

How to get there

Take the S-Bahn line S4 to Geltendorf. There, get on one of the shuttle busses. The busses start running 1 hour before the opening.
map of Munich public transport:

If you have a car there are plenty of fields around the castle that get turned into parking lots for the event days.
Please see here for instructions on how to get to Kaltenberg castle by car.