Stilt walkers, balloon modelling, face painting, dance demonstrations and an orchestra will be some of the entertainment on offer at the event in Union Street on May 31.
A Queen impersonator will be opening the event, which has been organised by the We Are Wednesbury group.
Members of the Monday Crafternoon group, which meets at Wednesbury Town Hall, are also knitting red, blue and white bunting to decorate the street.
Jilly Turner, from the group, said: "It's all free and everyone can come along.
"There will be a lot of entertainment including the orchestra from Sandwell, who will be playing music throughout the day. We have a dance group that will be doing demonstrations.
"Children will also be able to follow a trail finding pictures of the Queen.
"Each shop they go in they get their card stamped and they get a prize at the end.
"It should be a good day. The only thing we need now is the good weather."
The free family fun day will run from noon to 4pm.