Chinese New Year or Spring Festival is the most important of the traditional Chinese holidays. It is also called “Lunar New Year”, because it is based on the lunisolar Chinese calendar. The festival traditionally begins on the first day of the first month (Chinese: 正月; pinyin: zhēng yuè) in the Chinese calendar and ends on the 15th; this day is called Lantern Festival. Chinese New Year’s Eve is known as chú xī. It literally means “Year-pass Eve”.
The Chinese New Year celebrations are marked by visits to kin, relatives and friends, a practice known as “new-year visits” (Chinese: 拜年; pinyin: bài nián). New clothes are usually worn to signify a new year. The colour red is liberally used in all decorations. Red packets are given to juniors and children by the married and elders.
The first two days. If one of the days falls on a Sunday, the holiday is extended to three days. In 2010, the first day (February 14) is on a Sunday so celebration of the holiday is extended through Tuesday (February 16).
I wishing to all my friends have a nice holiday and great new year.

By Wikipedia