Eid Al Adha is the latter of two Eid festivals celebrated by Muslims; its basis comes from Sura 2 (Al-Baqara) Ayah 196 in the Qur'an. Eid al-Adha is celebrated annually on the 10th day of the 12th and the last Islamic month of Dhu al-Hijjah of the lunar Islamic calendar. Eid al-Adha celebrations start after the Hajj, the annual pilgrimage to Mecca in Saudi Arabia by Muslims worldwide.
Eid Al Adha (Festival of sacrifice) is an important religious holiday celebrated by Muslims worldwide to commemorate the willingness of Ibrahim to sacrifice his son Ismail as an act of obedience to God, before God intervened to provide him with a ram to sacrifice instead. Ibrahim had shown that his love for God superseded all others: that he would lay down his own life or the lives of those dearest to him in submission to God's command. Muslims commemorate this ultimate act of sacrifice every year during Eid Al Adha.
It is very important to understand that the sacrifice itself, as practiced by Muslims, has nothing to do with atoning for our sins or using the blood to wash ourselves from sin. This is a misunderstanding by those of previous generations: "It is neither their meat nor their blood that reaches Allah; it is your piety that reaches Him." (Qur'an 22:37).
It is a day of happiness with Muslims starting their day visiting the Mosque dressed in their best clothes. Special foods are eaten on this day such as lamb and sweet dishes. Family & friends visit one another, presents are exchanged and homes are decorated. Eid money is also given to charities to help the poor.