The pheasant was an early game bird introduction to America. A very handsome Asian native, it had already been a popular game bird in Europe when first brought to the US during colonial times by sportsmen (to Virginia, in fact, where it did not prosper). The hen pheasant comes in a plain brown wrapper with a shorter tail, but the roosters can appear in atypical colors due to hybridizing efforts. The pheasant is a rare example of an introduced bird which has no deleterious effects on existing ecosystems.
Pheasant prefers northern, open agricultural lands with areas of dense cover, and does not survive in the southern US. Pheasant is widely pen-bred and reared for hunting purposes, but few released birds in the US survive assaults from red-tailed hawks and coyotes, as they have not had the opportunity to become street-wise. The bulk of the wild, breeding populations are in the Dakotas, but they are found throughout the northern midwest and can even be found occasionally in the northeast. As agriculture has become more efficient, their numbers have slowly declined.
In Europe, pen-raised birds are typically allowed to enter an area where they have the chance to become semi-wild, capable of strong flight, and independent, but are held by food until the day they are driven by beaters into high flight designed to be challenging for shooters. In the western US, pheasant are hunted with dogs, or driven to the ends of large fields where they are forced into flight. In the eastern US, typically, fat pheasants are hunted on the day of release, hence our pal L's expression "flying mattresses." Such birds are not particularly sporty but most of us have found ways to miss plenty of them, especially when given time to think. It is considered proper decorum to let them get well underway in flight before pulling the trigger since, unlike grouse, you usually have a fairly open shot and you don't want your pellets to turn them into ground hamburger meat. In the midwest and west, pen-raised birds are used to supplement wild populations for sportsmen.
Fun to hunt? Definitely. Good for dog work? Yes. Good to eat? You bet. Cook to pink in the center. Read more about Ring Necked Pheasant at CLO. An organization called Pheasants Forever works on land management for pheasant.
(Details of English pheasant rearing practices corrected thanks to our across-the-pond cousin Mr. FMFT)