2016’s Lunar Festival starts on February 1 and ends on Feb 15. The Lunar Festival is held every year starting on a date that typically coincides with the Chinese New Year.
Ancestors of Azeroth are praised and honored by both Horde and Alliance, who then reward players with a special title, Elder <Name>, a celebration in Moonglade, and numerous 
Coin of Ancestry that can be used to purchase festive garb, patterns and fireworks!
Since 2015, there are several new additions:
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Elune’s Lantern from 
Elune’s Blessing is now a toy, and there are two Firework toys for sale, 
Everlasting Alliance Firework and 
Everlasting Horde Firework:-
They were previously only available for one week before Mists of Pandaria launched as part of the Theramore scenario–great to see them return!
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They cost 25 Coin of Ancestry each, and learning one automatically teaches you the toy for the opposite faction.
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Learn how to track your Toy Box collection on Wowhead.
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For pet lovers, there’s the
Perky Blaster–give your 
Perky Pug a firework! -
Engineers get three new firework schematics:
Schematic: Alliance Firework, Schematic: Horde Firework, and Schematic: Snake Firework. These require 500 skill. -
Vendors sell
Ancient Heirloom Armor Casing for 40 Coin of Ancestry and 
Timeworn Heirloom Armor Casing for 75 Coin of Ancestry.
This year visiting all the elders will earn you about 700g! Our in-game event guide contain all of the Elders location and recommended path.
Update Dugi Guides right now for the in-game guide.
2 replies to "2016 Lunar Festival Guide (Feb 1 – Feb 15)"
The event does not run until March 15. It runs until February 15. Have fun all!
In Blasted Lands make sure you go visit the Keeper of Time to revert the lands before the invasion, otherwise the Elder won’t show up.