The Lunar Festival celebration takes place among the druids of Moonglade, where large festival camps feature fireworks launchers, festive lanterns, and exotic beams of light capable of teleporting players to capital cities. The Lunar Festival is a reference to the Chinese New Year celebration, often called the Lunar New Year.
During the Lunar Festival, players can visit ghostly Elders located throughout Azeroth and Northrend to give their respects and honor their ancestor’s spirit. In return, the Elder will reward the player with reputation and Coin of Ancestry, which can be used to purchase seasonal attire and patterns from special vendors in Moonglade. These seasonal patterns teach skilled players to craft festival outfits (including suits and dresses) or explosive new fireworks! The Player will also be called upon to defeat the corrupted demi-god Omen who stirs beneath the waters of Moonglade’s Lake Elune’ara.
More information on Wowhead.