Lunar New Year (a.k.a. Chinese New Year) is actually celebrated all across Asia. It's a big family event, with lots of people traveling back home for the holiday (read this news story about Millions trying to get home, but not enough public transit in China on Lunar New Year). Travel was disrupted by 3 weeks of massive snow storms, backing up traveling people all across the large country.
Check out this informative page at Chinapage.com about the lunar new year. There is info on the Chinese zodiac (this is the Year of the Rat), how the lunar new year is calculated (this year is Feb. 7), and lots of links to info on celebratory traditions.
"Gung Hei Fat Choy!" is a Chinese new year's greeting. You can read an article from the San Francisco Chronicle about their celebration here. Gung Haggis Fat Choy (a creative blend of Scots and Chinese traditions has traveled from Vancouver, where it originated, to Seattle, and Connie Crosby blogs it this year, too. Visit her site with lots of great links, including a rap celebration. More traditional celebrations across the U.S in New York and again NYC's Chinatown, San Francisco's Chinese Culture Center, and Boston.
Learn about other Asian cultures' celebrations:
Korea at http://www.clickasia.co.kr/about/h0101.htm
VietNam's Tet at Wikipedia
And this handy survey from Asian American Books.com, though written between 1996-1998, it still has useful info from people of the cultures they are describing.
And, a virtual reality celebration in
World of WarCraft Whew! I'll bet there's one in Second Life, too, but I haven't had the time to look. The image is a new stamp from the U.S. Post office, commemorating this new Year of the Rat, from http://www.usps.com/images/stamps/96/lunarny.gif!