The Yi Peng Festival is a traditional celebration held in Chiang Mai, Thailand, usually in November. It coincides with the Loi Krathong festival, where people release floating lanterns into the sky. The festival symbolizes the letting go of misfortunes and the welcoming of good luck. During the festival, thousands of lanterns, known as khom loi, are lit and released, creating a stunning visual display. The event attracts both locals and tourists, who participate in various cultural activities, including traditional music, dance, and food, making it a vibrant celebration of Thai culture and heritage.