Mărţişor is a traditional celebration of the beginning of Spring, on the 1st of March. It is a tradition in Romania, which is where my family is from. Similar customs are found in Bulgaria , Macedonia, Albania, Italy. 
Mărţişor is the name for the red and white string, from which usually a small decoration is tied, and which is offered by people on the 1st day of March. Giving this string to someone is an old custom, and it is believed that the one who wears the red and white string will be powerful and healthy for the year to come. It is also a symbol of the coming spring. 
In modern times, the Mărţişor became more of a symbol of friendship and love, appreciation and respect.