Shipstads & Johnson Ice Follies was a touring ice show featuring elaborate production numbers, similar in concept to Ice Capades. It was founded in 1937 by Eddie Shipstad, Roy Shipstad, and Oscar Johnson, who also skated in the show. In later years, Olympic skaters such as Donald Jackson, Peggy Fleming, and Janet Lynn were in the cast. Ice Follies also featured novelty acts such as Frick and Frack and Richard Dwyer, who was billed as "Mr. Debonair".

Ice Follies was featured in a film, The Ice Follies of 1939, MGM's answer to the popular Sonja Henie films of the time.

Ice Follies merged with Holiday on Ice in 1979.

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