New York’s Times Square has the ball drop. Here in Arizona, we have the dropping of pinecones in Flagstaff and the dipping of a giant tortilla chip in Tempe.

The town of Prescott is trying to establish its own unique tradition by lowering an oversized cowboy boot to ring in the New Year.

Matt Brassard owns M&M Entertainment, which runs the event. He says it’s designed to help downtown businesses attract visitors, while tying in the city’s history.

“With Prescott, Arizona being considered the ‘cowboy capital of the world’ and with the world’s oldest rodeo that we have here during the 4th of July, it’s a perfect fit to drop a cowboy boot and kind of replicate a mini-Times Square.”

The 8-foot fiberglass boot, illuminated with more than 300 lights, was designed by a local artist.

It’s the fifth straight year it will be lowered down a flagpole in Prescott’s historic Whiskey Row.

There will be two drops--one at 10 p.m., and another at midnight.

YouTube user jocker158 posted this video of the Prescott boot drop on Jan. 31, 2012.