This study aimed to investigate the effects of participating in a voluntary community-based square-stepping exercise (SSE) salon and analyze the effects of different activity frequencies (weekly or biweekly) in the SSE salon on the physical functions of community-dwelling older women. Older women attending the SSE salon were enrolled in the study, and measurements of physical functions (grip strength, one-leg standing, 5 m walk, timed up and go [TUG], and chair-stand in 30 s) were performed at pre and post intervention for SSE salon development and at 1 year following voluntary activity initiation (1-year follow-up) (mean age: 77.1 ± 7.2 years). Participants were divided into two groups (a weekly group performing SSE once a week and a biweekly group performing SSE once every 2 weeks) and were analyzed accordingly. The results revealed interaction in the TUG test, with significant improvement observed in the weekly group at preintervention, postintervention, and 1-year follow-up. Conversely, the biweekly group significantly improved at the 1-year follow-up compared with the pre and postintervention groups. No significant difference was observed in other parameters. In conclusion, regular participation in the SSE salon, even if the frequency is biweekly, was suggested to be effective in maintaining and improving physical function.