The statue and fountain was funded in 1938 by the Women's Panhellenic Association of Ruston, the governing body of the university's sorority groups. The Lady of the Mist was the idea of Art & Architecture faculty member Mary Moffett and Art Department Chair Elizabeth Bethea. The Lady of the Mist was created by Duncan Ferguson and Jules Struppeck and specifically located in the middle of the Quad facing north toward the old north entrance columns of the Tech campus. This was done to welcome everyone to the campus as people looked through the north entrance columns to see the statue's open arms waiting to greet them.