The traditional New Year's Eve street celebration in Edinburgh is called Hogmanay.
Hogmanay is the Scots name for New Year's Eve and, more broadly, for Scottish New Year celebrations. Edinburgh's modern event has included torchlight processions, concerts, street parties, and a midnight fireworks display, although exact programming can change from year to year.
The celebration sits within a wider Scottish custom of first-footing, in which the first person to enter a home after midnight is traditionally expected to bring good fortune. Gifts or symbolic items can be carried as signs of prosperity and hospitality.
Hogmanay is sometimes confused with Burns Night, which honors poet Robert Burns on January 25, or St Andrew's Day on November 30. Those are separate Scottish observances. Hogmanay specifically concerns the passage from one year to the next.