The major events that characterize the Holi festival worldwide include the throwing of colored powders, water balloon fights, and communal festivities. Holi is celebrated to mark the arrival of spring, symbolizing love, joy, and the victory of good over evil. Rituals often begin with the Holika Dahan fire, commemorating the legend of Prahlad and Holika, followed by a day filled with laughter, music, and dance. Communities come together to enjoy traditional sweets and drinks, making Holi a vibrant festival that fosters unity and friendship among people from diverse backgrounds.