Loy Krathong (pronounced loy krah-tohng) is an ancient festival to honor and thank the water spirits for all the water provided during the growing season. It is celebrated (usually in November) on the first full moon after the rice harvest.
At night, the people float colorful, candlelit banana-leaf bowls, baskets and lanterns on the rivers. The act of floating away a raft is symbolic of letting go of one's grudges, anger and defilements of the past year and ushering good luck in the coming year