Carolyn Buchmann Parks was born in Alamosa, Colorado, to Max and Carrie Kahn Buchmannn. She began her ballet training at the age of ten in Denver, Colorado, and at eighteen moved to New York City to continue her studies, later advancing her training in Paris and London. Parks studied with several prominent ballet instructors of the early 20th century, including Lillian Cushing, Michel Fokine, Luigi Albertieri, Lubov Egorova in Paris, and Nicholas Legat in London.

Throughout the 1930s, Parks performed professionally, including touring with the Mistinguette ballet troupe. She later established her own ballet ensemble, which performed in both Europe and South America. In 1935, she married Richard Turner Parks. During the Second World War, she served as a codebreaker for the United States government, while her husband served as a pilot in the Army Air Corps.

Following the war, Parks became a significant figure in the West Coast dance community. She purchased and directed the Academy of Ballet in San Francisco and, together with Leona Norman, co-managed and directed the Bay Area Ballet. She also played a foundational role in the establishment of the Marin Civic Ballet.

In 1960, Parks authored a widely discussed article in Dance Magazine titled "Toe Shoes...When?", which challenged the practice of introducing pointe work too early in a dancer’s training. Her advocacy influenced dancewear manufacturer Capezio's production policies and led to her collaboration with instructors at the Kirov Ballet School.

Parks later founded the Carolyn B. Parks Trust to provide scholarships for aspiring dancers. In addition to her professional accomplishments, she was recognized as a generous and gracious hostess, who for over four decades welcomed members of the national and international dance community into her home.