Complex sentence: The festival is also home to a local crafts fair and auctions for the selling of excess colts from the "wild" pony herd managed by the Wilburn Ridge Pony Association.
Split into simpler sentences: The festival is also home to a local crafts fair and auctions for the selling of the excess colts from the "wild" pony herd. The ponies are managed by the Wilburn Ridge Pony Association.