Folia de Reis, a traditional Brazilian form of wassailing usually done between Christmas and "Kings' Day" (January 6th). It's in honor of the "three wise men from the East" from the biblical nativity story, called "Reis Magos" (Magi Kings) in Portuguese. Traditionally it involves moving along the street with music and these frolicking costumed characters called "Bastião", which supposedly have terrifying visages to ward away evil spirits, as well as a religious banner that people often attach vows to. The procession then stops at people's houses to eat and drink - it's considered an honor to host them, and nowadays there's a very long waiting list to do so (these stops are scheduled ahead of time). This procession in the video is a special one where all the "Reis" companies parade together (no stopping for meals though).
