I got this figurine in Mexico in November when I was there for a wedding. We just missed the celebrations for Dia de los Muertos, the Day of the Dead, but there were figurines everywhere as well as evidence of the festivities.
I like the idea of this celebration, which takes something that hurts so much (losing a loved one) and creates an opportunity to celebrate their life.
José Guadalupe Posada created a famous print of a figure he called La Calavera Catrina ("The Elegant Skull") as a parody of a Mexican upper-class female. Posada's striking image of a costumed female with a skeleton face has become associated with the Day of the Dead, and Catrina figures often are a prominent part of modern Day of the Dead observances".