This is The Real Big Race at the Darkmoon Faire in World of Warcraft. The race was done in 18 tolls using the Wanderluster for the "Big Wanderluster: Gold" achievement to get the Darkmoon Gazer (looks like the Darkmoon Eye Battle Pet). A level 20 toon that had no mount speed enhancements was used.
For an explaination on using a timer to sync with Powerup, see this video:
• Darkmoon Faire 3x 16 T... (Darkmoon Faire 3x 16 Tolls Big Race Rocketeer)