The Fireworks Festival occurs every Sunday night at 7.00 p.m. during the month of August in New Leaf.  Isabella takes charge of the Event.  On the first night, she gave me a glowing headgear fashioned as insect antennae.  When I spoke to her again, she gave me Fountain Fireworks.

More interesting is the presence of that sly trickster Redd at a booth in the Plaza. For 500 Bells, he sells 'Redd's Cookies' made by the Nook nephews.  Each Cookie contains a prize ticket.  Most of them are losing tickets, otherwise known as 'duds'.  Redd will accept these losing tickets, however, giving you a roman candle or sparkler in exchange.

There are a number of prizes that go with winning tickets.  The winning tickets can be 'pop prizes', 'whiz prizes', 'sparkle prizes', 'bang tickets' or 'flash prizes'.  In the case of the 'flash prize', Redd will refer to it as a 'boom prize'.

The tickets and corresponding prizes are:

 Pop Prize: Ultra Machine

Whiz Prize.  Well then, here's your prize!  A Ten-Billion Barrel!
Congrats  You got a spearkle prize!  Miniature Car

All the Sparkle prizes are minitaure cars.

Congrats!  You got a Bang Prize!  A boxed figurine

Crackle Prize:  Ultra Hand

You got a Flash Price... but Redd says:  Wow! Ya got a Boom ticket!  Congrats!  Well then, here's your prize: A lovely phone!

There may be more prizes, but 10,000 Bells later, I had had enough.

Note that some of these items carry a high resale value:

Miniature Car: 2500 Bells
Lovely Phone: 2600 Bells

Others are of negligable resale value:

Ultra Hand: 256 Bells
Ultar Machine: 250 Bells
Ten Billion Barrel: 256 Bells
Boxed Figurine: 300 Bells

Notwithsanting the fact that many of my Neighbours had been talking about the Fireworks for days beforehand, expressing their dtermination to be there, the Plaza was empty save for Isaballa and Redd.