The week-long celebration of the Ibalong Festival in Albay, Legaspi is held every 2nd week of October. The festivities depict the historical evolution of Bicol from a rich land called Ibalong. This is highlighted by a colorful parade with people donning masks and costumes to look like the heroes and villains of their epic Ibalong (This is the story of the beginning of Bicol). They dance, sing and play music. They hold procession in beautifully prepared floats. Through their presentations, the locals relive the classic battles and heroic adventures of their mythical heroes namely, Baltog, Handyong and Bantong against foes and wild beasts.

Only recently, did the organizers of the festival offered prizes to the most outstanding performers. So, with competition in the air, tourists and locals alike are witnesses to a more lively and colorful celebration every year thereafter.

Other attractions include street parties, band concerts in the evening, flea markets in the streets, drag races and fireworks display, among others.

In 2005, the festival was held from October 25 - 31. It was rainy on the day of the culmination of the festivities. However, the weather did not dampen the spirit of the revelers. It was even broadcasted in the local media so people who cannot join the celebration in the streets just stayed glued to their TV sets. They even waited until the winners of the competition were announced.