I think it's the goyim version of Purim, which just took place last weekend.
During Purim, you party and get drunk.
"A person is obligated to become inebriated on Purim until he doesn't know the difference between "cursed is Haman" and "blessed is Mordechai." (Talmud Megillah 7b)"
you know how the Jewish and Gentile and Pagan holidays all coincide.
I'm sure, somewhere there are wiccans making offerings to Pan, or Dionysus, or Hepititus, or some god of decadance and debauchery.