They have a "Taste of Savage" with local restaurants, inflatables for the kids, some live bands, and some other entertainment. You can check it all out at their website: http://www.danpatchdays.org/.
The best part is the fireworks - for a fairly small town - the fireworks are pretty good! This year we learned that we can actually see them from the end of our driveway - so we are going to watch them from the comfort of our home again next year! Then we won't have to deal with any traffic!
If you live in the Savage area - I recommend you check out Dan Patch Days!