Fool's Dice is a simple race and gambling game where players roll dice and attempt to move their marker up a metaphorical mountain. Players initiate "scrambles" where they roll specially-designed "target dice" to create a target number, then roll "number dice" to see if they can score under that target number. If they do so, they can move their marker a specified number of steps up the mountain. They can choose to gamble and continue their "scramble" until they fail to meet their target.
If the target roll is not met, they will fall back to where they started at the beginning of their turn. Additionally, they must pay a penalty. These penalties are devised at the start of the game by the players and provide the "party" atmosphere, since penalties can be things like "Wash one dish in the sink," or "Run around the room 10 times."
Players also have three chances to knock a player's marker back down the mountain. This action, combined with the supposed humorous nature of the penalties, provides as the box says, "An extremely unique and wildly intense party game for two to six players."
According to the interior of the rule book, the first printing of this 1991 edition was of 3000 copies.