Capodanno is the Italian name for the New Year's celebration traditionally associated with red clothing for good luck.
The word Capodanno literally means “head of the year,” and it is used for New Year's Day and the surrounding holiday period. Italian New Year's Eve is also called la notte di San Silvestro, referring to Saint Sylvester's feast day on December 31. Families and friends commonly gather for a cenone, or elaborate dinner.
Red underwear or red garments are a popular modern good-luck custom in Italy. Depending on the local interpretation, red is associated with love, vitality, prosperity, or protection from misfortune. The custom is cultural rather than a religious requirement, and practices differ from household to household.
Capodanno is sometimes confused with Befana, the January 6 tradition involving the folkloric gift-bringer. Befana belongs to Epiphany, not New Year's Eve. The red-clothing custom is also found in other countries, so it is not uniquely Italian.