Ferragosto (deriving from the Latin Feriae Augusti) is the national Italian holiday and occurs on August 15th. There are various stories explaining its origin. One myth explains that the holiday is tied into the Consualia (in honor of the god Consus) celebrating the closing of the more strenuous part of the harvest period giving much-needed rest to the workers and animals. In fact, horses, mules, and donkeys were paraded around in flowers. Roman Catholics view this holiday as the Assumption Day on which the Virgin Mary was accepted into heaven. The traditions around this holiday have been maintained differently according to the Italian regions. In Siena for example, the extravagant festival known as the Palio di Siena is held on July 2nd and August 16th in which there is a horse race around the Piazza del Campo.
Today Ferragosto is a holiday in which Italians take the day off. Throughout the entire month, however, many businesses are closed. Italians take this period to flee to whichever vacation spot they see fit! The shores, camp sites, mountains, rivers, lakes, and resorts are full. It's a time for no work and all play! Buon Ferragosto!