In 1927, the Duke (later King George VI) and Duchess of York visited Adelaide on a royal trip across Australia, which included the official opening of the Parliament House in Canberra. Funds were leftover from events held during the royal visit, and the government decided to build a children’s playground on South Terrace. It was named the Princess Elizabeth’s Children’s Playground in honour of the Duke and Duchess’s daughter, Elizabeth (now Queen Elizabeth II).
It was the sixth playground to open in the city. The Lady Mayoress Constance Bonython officially opened it on 17 September 1929. At the opening, students from the Sturt Street School formed a guard of honour.
Equipment included seesaws, swings, a sand pit and "the whirligig, which produced howls of merriment and much giddiness". Like other playgrounds at the time, female supervisors supervised during weekdays, Saturdays and public holidays.
Although the equipment has been updated over the years, the Princess Elizabeth Playground has continued to be enjoyed by children in the southwest corner. As one citizen remarked in 1935, "Indeed, there is no city or part of a city where children are better provided for as regards playgrounds than West Adelaide."