January 1 represents many things: the first day of the new year, the Seventh Day of Christmas (just past the halfway mark for the Twelve Days of Christmas), St. Basil's Day and the Feast of Fools. Whatever January 1 means to you and your family, I hope you have a great day, and a very happy 2013!
St. Basil's Day
In some other countries, including Greece, New Years Day is a day of gift giving. Greece also celebrates St. Basil's Day on New Years Day, and some families even bake a special cake (St. Basil's Bread) and practice traditions designed to ensure good luck in the coming year. To learn more about St. Basil, and how he is celebrated, please go here.
Feast of Fools
In the Middle Ages in parts of Europe, the Feast of Fools was held on or around January 1. The basic idea was to turn regular order on its head - a fake bishop or pope would be elected amongst the feast attendees to act as "Lord of Misrule", and the attendees with low and high positions switched places. Many believe that the Feast of Fools was a Christian adaptation of Pagan Saturnalia festivities. The event was somewhat of a social revolution, if only for a night.
The Feast of Fools, Bruegel