In contrast to many more modern theme parks, Land of Makebelieve was a more low-key, whimsical attraction where children were encouraged to use their imagination. It allowed children to wander from place to place in the park as their whims guided them, without having to follow any sort of structured program or itinerary. Attractions and points of interest in the park included a castle, a riverboat, a train, several fairy tale houses, and a stagecoach and old western town.
The park was permanently closed in 1979 after suffering extensive flooding damage from the nearby Ausable River. (Less damaging floods had occurred 11 times previously.) Some of the fairy tale houses that were undamaged were relocated to the Six Flags owned Great Escape park in Lake George, New York.
The official name of the park (on signs and literature) did spell "Makebelieve" as one word, in contrast to the more common "Make-Believe" or "Make Believe" forms.