It is well known for the High Country tradition of alpine grazing , made famous in the movie The Man from Snowy River . This was made around Mansfield , based on the poem by Banjo Paterson . It is associated with the High Country tradition of alpine grazing , celebrated in the film The Man from Snowy River , which was made around Mansfield , near the now famous Craigs Hut ( based on a poem by Banjo Paterson with the same name ) .