Eid al-Adha

I am pretty sure that Eid means festival. There are 2 Eids here in Dubai - one right after Ramadan to celebrate the breaking of the fast and then one a couple of months later - Eid al-Adha which means festival of sacrifice. It in commemorates the willingness of Ibrahim to sacrifice his son as an act of obedience to Allah. Eid al-Adha occurs the day after the pilgrims conducting Hajj, the annual pilgrimage to Mecca in Saudi Arabia by Muslims worldwide.

Men, women, and children are expected to dress in their finest clothing to perform Eid prayer (Salatu'l-`id) in any mosque. Muslims who can afford to do so sacrifice their best domestic animals (usually sheep, but also camels, cows, and goats) as a symbol of Ibrahim's (Abraham's) sacrifice. The sacrificed animals, called "udhiya" Arabic: أضحية" also known as "qurbani", have to meet certain age and quality standards or else the animal is considered an unacceptable sacrifice. A large portion of the meat must be given towards the poor and hungry people so they can all join in the feast which is held on Eid-al-Adha. The remainder is cooked for the family celebration meal in which relatives and friends are invited to share.

Reference - http://en.wikipedia.org/wiki/Eid_ul-Adha