I'd rather call it Lunar New Year, because other asian ethnicities celebrate as well. It's on January 22nd this year (my mom's birthday coincidentally) and I'll be back in T.O with the family, getting some much needed red-packets for the school year!
It's not as big in North America as it is in Asia. I plan to go back sometime for the Lunar New Year to see the 80% of my extended family who live there. They do it up propa!
It's becoming the year of the monkey! Sounds good to me.
We're having our second annual Chinese New Years party for Cakers this year--only this year some of my asian friends willactually be able to come as we're not having it right on the actual new years. Last year it was and they all had to do family stuff.