Deaver was named for Chicago, Burlington & Quincy Railroad agent D. Clem Deaver. Once the town was established, probably the next biggest thing to happen in the history of Deaver was the establishment of the Civilian Conservation Corps' Camp Deaver in 1935. The primary purpose of the CCC in the area was to build roads, dams, irrigation canals and ditches, and lay water pipe. They also fought forest fires and, in at least one case, aided in the search for someone missing in the forest at the Pryor Mountains Wild Horse Range. The camp was closed in 1941, then converted into a German POW camp for the duration of the war.

Deaver is also a bit famous for its wind: when it isn't blowing one way, it's blowing the other...