Eid al-Fitr marks the end of the fasting month of Ramadan. This has to do with the communal aspects of the fast, which expresses many of the basic values of the Muslim community; e.g., empathy for the poor, charity, worship, steadfastness, patience etc.
Eid is celebrated on the first day of Shawwal - the month which follows the holy month of Ramdan - the month of Fasting.Eid Al Fitr is celebrated by all Muslims through out the world after 30 days of fasting from dawn to dusk.This festival is considered as symbol of unity and is celebrated by hugging each other. Eid is also called as feast day and is marked by special food called Siwayyan served with butter milk. Eid Al Fitr has special prayer of two Rakats which is prayed either in a open area or in a big congregation hall.

Source: Wiki pedia.
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