Hold a New Tournament
Events: melee fighting, magical duels, throwing (javelins, etc) and martial arts
Length: two days
Awards: first place winner(s)
Top Prizes: expensive equipment (plate mail, etc)
Crowd: fairly small
Betting: unofficial - fair odds
Other Entertainment: a storytelling contest, acrobats and jugglers, local bards and professional hecklers
Competitors of interest:
The flirtatious bard who is all talk.
The nondescript mercenary who has quite a few fans.
The tricky rogue who desperately needs the prize.
The odd foreigner who has little practical skill.
The gangly youth who is relatively well-known.