Loy Krathong (Loi Kratong) is a festival held in Thailand on the full moon of the 12th month in the traditional Thai lunar calendar. In western calendar it is usually in November. In 2014 the festival is held on the 7th of November.
"Loi" means "to float". "Krathong" is sort of tiny raft, about a hand span in diameter, usually made from a part of banana tree trunk. Krathong is decorated with folded banana leaves, flowers, candles, incense sticks etc. During the night of full moon people release their Krathongs down the river.