If you’re unsure what, exactly, a caucus race is. Lewis Carroll gives as good an answer as any in Alice’s Adventures in Wonderland:
First it marked out a race-course, in a sort of circle, (‘the exact shape doesn’t matter,’ it said,) and then all the party were placed along the course, here and there. There was no ‘One, two, three, and away,’ but they began running when they liked, and left off when they liked, so that it was not easy to know when the race was over. However, when they had been running half an hour or so, and were quite dry again, the Dodo suddenly called out ‘The race is over!’ and they all crowded round it, panting, and asking, ‘But who has won?’
This question the Dodo could not answer without a great deal of thought, and it sat for a long time with one finger pressed upon its forehead (the position in which you usually see Shakespeare, in the pictures of him), while the rest waited in silence. At last the Dodo said, ‘everybody has won, and all must have prizes.’
There you have it. A bunch of people running about with no direction, a tremendous amount of energy is expended, nothing is accomplished, and everyone feels good about themselves.