Fike Park used to be called Carp Lake. An 1890 newspaper reported that the favorite occupation of the young people during the pleasant spring evenings was boating on the lake. It was formed by the railroad grade and would only fill up during times of heavy rainfall. Improvements to convert the area into a park started in 1907 when J. N. Fike was mayor.

Fike Park is the most popular park in Colby for picnics, community events, weddings/receptions, and for general relaxation and enjoyment. Two gazebos, a volleyball area, horseshoe pitching pits, and tennis courts are available here. Over $100,000 was raised by civic groups and parents in 1998-99 with assistance from the Kansas Department of Wildlife and Parks and the City of Colby for new playground equipment. The local volunteers erected all equipment and City crews beautified the surrounding area.

In 2000, the tennis courts in this area were replaced and are used by Colby Community College and Unified School District #315. Colby Swimming Pool is located just south of the Park.

Although many events are held in Fike Park, no reservations can be made for the area. Everyone is welcome to hold their events in the park on a "first come, first serve" basis. Questions on facilities available at the park may be addressed to the Public Works Foreman.