Second is abundance, often in the form of volume, but also often in lush embroideries and decorative details.
Third is a sense of joy. There is a common thread, (you should pardon the pun) that runs through the attire of festival clothing the world over, and that is an aspect of visual delight, and playfulness. No matter the seriousness of the occasion, there is an underlying gleefulness that is inescapable.
Wealth is also an aspect of festival attire, as in some cultures plates of silver, or metal coins are sewn directly to the clothes as a brash, and obvious statement of status. In Russia, clothes are heavily adorned with pearls, and especial the headdress know as a kokoshnik was sometimes entirely covered with pearls, and jewels. In the Guizhou, in the village of Upper Jidao the women wear these astonishing silver plated headdresses during festival dancing.
Wherever you go in our amazing world, whatever culture you visit, this is something you will be able to see and instantly understand. When we call ourselves to festival, we choose to live in a world of abundance and delight, regardless of what the harsher realities of our lives may insist upon.