The people of Madinah used to have two festivals. On those two days they had carnivals and festivity. The Prophet (peace be upon him) asked the Ansar (the Muslims of Madinah) about it.
They replied that before Islam they used to have carnivals on those two joyous days.
The Prophet (peace be upon him) told them: “Instead of those two days, Allah has appointed two other days which are better, the days of Eid Al-Fitr and Eid Al-Adha.” (Hadith)
Insha Allah — GOD Willing: We are trying to post summaries from a number of sources for each Ramadaan Taraweeh.