The festival in Mexico that honors deceased loved ones through vibrant altars and festivities is the Day of the Dead (Día de los Muertos). Celebrated on November 1st and 2nd, this tradition involves creating ofrendas, which include photos, favorite foods, and mementos of those who have passed away. Families gather to remember their loved ones with joy rather than sorrow, celebrating the cycle of life and death. The festival features lively parades, marigold decorations, and the iconic sugar skulls, all of which underscore the cultural significance of honoring the departed in a colorful and festive manner.