Eid means "Day of Happiness" in Arabic. It is a festival of Islam. There are two types of Eids; one is Eid-ul-Fitr and the other is Eid-ul-Adha. Eid-ul-Fitr is celebrated in gratitude for the special blessed month of Ramadan after its end, in which fasting is done, as commanded by Allah, from dawn to dusk by all who can bear to do it. It is marked by specific prayers and exchange of pleasantries.
Eid-ul-Adha is celebrated in commemoration of the supreme sacrifice of Prophet Ibrahim (peace be upon him) of his son which he tried to present to Allah as commanded to do so. It was accepted without his son's sacrifice with an animal instead. It was merely a test, and became an ideal example of complete submission for the rest of the mankind. Eid-ul-Adha is celebrated by emulation of this gesture as commanded by Allah, by offering sacrifice of lawful animals thereby comprehending in imbibing the readiness to sacrifice of one's own evil inclinations, false pride etc in the same spirit, for complete submission to one true God alone and no one else. Specific prayers are held on this day.