The traditional festival takes place annually in the Inle Lake region. It lasts 18 days, from the 1st of the Thadinguyt month (in November). On this occasion, the residents express their respect to the monks and Buddhas. At the same time, a ceremony to return Buddha statues to the temple is held.
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During the festival, you will have the opportunity to attend two major public events. The first is to accompany Buddhas through their walking along the main roads of the Inle Lake. The second part, which is equally fascinating, is the standing rowing race. There are also many other cultural activities that show the Buddhist spirituality of the Burmese.
According to the local tradition, only 3 of the 4 Buddha statues in the Yadanasan Hall perform this annual trip. The last one will remain at the historic pagoda of Phaungtaw Oo. The three Buddha statues of the Phaungtaw Oose temple will move successively to the 21 places around the Inle Lake and then return to the pagoda. The statues of Buddha are covered with gold leaf. There are also typical offerings such as lanterns, purified water and other products. In general, state governors and government officials participate in the procession to the temple of the three Buddhist statues. The most important part of the procession is the presence of the royal boat that symbolizes the former royal capital Karaweik.
This trip is a feast for the locals, as well as for national and international tourists.
Thus, on this occasion, a traditional boat racing of leg-rowers will take place on the Inle Lake.
The Feast of Phaungtaw Oo Pagoda with its golden boats and colorful traditional villages along the Inle Lake is an impressive picture, which is full of vivid colors, and the most spectacular one among the major festivals in Myanmar. Participating in the festival means traveling to the heart of Burmese culture. Visitors will not only rejoice in the festive atmosphere and Buddhist spiritual experience, but will also have the opportunity to contemplate the natural beauty of the Inle Lake, one of the brilliant jewels of tourism in Myanmar.
Source: http://ancharm-myanmar.com/travel-guide/cultural-experience/feast-phaungtaw-oo-pagoda-myanamar/