The fountain is considered a heritage monument, a memorial to King Edward VII. It was initially equipped with bronze cups on chains, but these were quickly stolen and never replaced.

Members of the Imperial Order of Daughters of the Empire commissioned sculptor Charles Marega in 1912. The fountain was dedicated to the memory of King Edward VII and, until 1966, was prominently located in front of the Courthouse building on W. Georgia. The 1983 conversion of the building into Vancouver's art gallery sparked renewed interest in the fountain. Brought out of storage, the sculpture now graces the west side of the building, facing Hornby Street.