The event that features the release of lanterns into the sky, often in celebration of new beginnings, is known as a lantern festival. These festivals occur in various cultures, including the Lantern Festival in China and the Yi Peng Festival in Thailand. Releasing lanterns symbolizes letting go of the past and welcoming new aspirations and hope for the future. Participants gather to share their wishes and aspirations, creating a visually stunning and spiritually poignant experience that inspires community bonding and personal reflection.