Bubble Fair is a variant of the arcade game Pang. The story involves the characters Inky and Jinky who arrive at a fair as soap bubbles start falling from the sky. The bubbles are the work of the sorcerer ARCphile who wants to control all stalls of the fair. To make him stop, Inky and Jinky challenge him to a duel. The duel involves a game of noughts and crosses where each stall represents a square. In each of the stalls the player has to catch the ice cream that is hidden within a bubble that blocks access to the stall. For each stall there are two ice creams to catch and when done that square is won. To win the whole game the player has to win the nought and crosses game four times.

Like in the arcade game, it is a platform game with single screen levels. Bubbles will bounce around and the player's task is to destroy them with the use of an upwards travelling rope attached balloon that when hitting a bubble splits it into smaller ones or destroys it completely. The game features power ups that are dropped when a bubble is hit. These can lead to both positive and negative effects including increased or decreased time or score, giving a shield, extra balloons or inverting the player's movement. In total there are 72 levels.