Fireworks burst in a variety of colors across Moonglade's sky in celebration of the Burning Legion's defeat thousands of years ago. Having thwarted the same enemy on the Broken Shore and Argus, the holiday has taken on a deeper meaner for you than in years past. As you travel across Azeroth, honoring your elders and gaining their favor and wisdom, a sense of peace suffuses your being. Though you may face many trials and tribulations on the road ahead, this is a time of happiness and unity. Of course, the good fortune bestowed on those who honor the holiday wouldn't be unwelcome, given your propensity to find yourself neck-deep in all forms of trouble.
Happy Lunar Festival to all! Though this isn't the grandest of holidays celebrated on Azeroth, it does offer pet collectors & battlers two, faction-specific pets: the Lunar Lantern for the Alliance, and the Festival Lantern for the Horde.
Each pet costs 50 Coins of Ancestry, and they are tradeable, meaning you can hop onto your AH and purchase the opposite faction's pet (and/or your own).
Coins of Ancestry can be collected through a few quests generally found in Moonglade, as well as visiting the Elders listed in your achievement section for the holiday. So, head on out across the world to collect some venerable wisdom, coins, and a couple of handy pets!