Let me begin by saying last year I attended the Olympic Festival when it
was in San Antonio. In addtion to men's tournement (more on that later)
they also had a pair of exhibition games between the U.S. and Canada
Women team.  If anybody is near St. Louis I recommend that they go not
just to the hockey but to any events they can.
 
Like Justin said the Olympic Festival is an event developed by the U.S.
Olympic Committee to develop the best young athletes in the country for
future Olympic competition. Each sport's governing body invites athletes
to participate and they athletes are assigned to a team. Useally based on
where they live.  The four teams are North, South, East and West. In the
case of hockey where there is a lack of talent out side of the North and
East the coaches draft the teams prior to the tournement.
 
Each sport at the festival has its own criteria and purpose for
participating, but one the the purposes of the U.S. Amauter Hockey
Association is to choose memebers of the U.S. National Jr. Team who will
play in the World Jr. Championships.  Because of this there are no
players over the age of 20 in the Olympic Festival, however you will see
the best college and Jr. A players that this country has.
 
The hockey tournement format is round robin. After the three games the
two teams with the best record play for the gold and silver, while the
other two teams play for the bronze.
 
David