The Yi Peng Festival is an annual celebration held throughout northern Thailand, but many tourists will flock to Chiang Mai to experience the event for themselves. It is also written as “Yee Peng Lantern Festival” or is often referred to as the “Festival of Light.”The festival is when people release sky lanterns, or “Khom Loi/Khom Fai,” into the night sky. These lanterns are made of thin paper materials like rice paper with a bamboo structure. Within the sky lantern is a candle or fire starter; the heat generated gets trapped in the lantern, which lifts the lantern to the sky.