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When and where is the festival?
The festival traditionally begins on the first day of the first lunar month in the Chinese calendar and ends on the 15th; this day is called Lantern Festival
Chinese New Year's Eve is known as Chúxī (除夕). Chu literally means "pass" and xi means "Eve".
Celebrated in areas with large populations of ethnic Chinese, Chinese New Year is considered a major holiday for the Chinese and has had a strong influence on the new year celebrations of its geographic neighbours, as well as cultures with whom the Chinese have had extensive interaction. These include Koreans, Mongolians, Nepalese, Bhutanese, Vietnamese, and formerly the Japanese before 1873. In Singapore, Indonesia, Malaysia, the Philippines, Thailand, and other countries with significant Chinese populations, Chinese New Year is also celebrated, largely by overseas Chinese, but it is not part of the traditional culture of these countries. In Canada, although Chinese New Year is not an official holiday, many ethnic Chinese hold large celebrations and Canada Post issues New Year's themed stamps in domestic and international rates.
Why is the festival celebrated?
According to legend, in ancient China, the Nián was a man-eating beast from the mountains (in other versions from under the sea), which came out every 12 months somewhere close to winter to prey on humans. The people later believed that the Nian was sensitive to loud noises and the colour red, so they scared it away with explosions, fireworks and the liberal use of the colour red. These customs led to the first New Year celebrations. Guò nián ,which means to celebrate the new year, literally means the passover of the Nian.
How do people celebrated the festival?
During the Chinese New Year's celebration, people participate in many traditional activities. The Chinese believe that as they enter a new year, they should put behind them all things of the past. They clean their houses, pay off debts, purchase new clothes, paint their doors and window panes, and even get new haircuts. These activities symbolize new life and new beginnings.
Homes are decorated with flowers and paper decorations stating wishes of prosperity, good luck, happiness, good fortune, wealth, and longevity for the coming year. Decorations of the incoming zodiac animal are also displayed. Red and gold are very popular colors to decorate with. Red represents power happiness, vitality (and scares away beasts). Gold represents wealth and good fortune.
More Information in this web site(eg. fireworks,food,exchanging gifts,dragon dance...) since the words are limited:
http://teacherlink.ed.usu.edu/tlresources/units/Byrnes-celebrations/chinese.html
Is there any special food ,costumes,etc?
A reunion dinner is held on New Year's Eve where members of the family, near and far away, get together for the celebration. The venue will usually be in or near the home of the most senior member of the family. The New Year's Eve dinner is very sumptuous and traditionally includes chicken and fish. In some areas, fish (simplified Chinese: 鱼; traditional Chinese: 魚; pinyin: yú) is included, but not eaten completely (and the remainder is stored overnight), as the Chinese phrase "may there be surpluses every year" (traditional Chinese: 年年有餘; simplified Chinese: 年年有余; pinyin: nián nián yǒu yú) sounds the same as "may there be fish every year."
Apart from this, you can also see other Chinese cuisine & food items in this web site:
http://en.wikipedia.org/wiki/Chinese_New_Year