The Polar Plunge is the largest fundraising effort benefiting Special Olympics of Georgia, with participants collecting pledges or simply paying a fee for the opportunity to jump into the icy waters. The Polar Plunge, held at Lake Lanier Islands Beach and Waterpark, is the largest fundraising effort benefiting Special Olympics of Georgia. Many states across the nation participate in the annual event with participants collecting pledges or simply paying a fee for the opportunity to jump into the icy waters.