Ein proosit ..!
I'm usually not a big fan of folkloric events, but I really love the Oktoberfest which takes place in Munich every year. Luckily two good friends of mine (danke A&A:D ) live there so if I can make the trip there I can combine seeing them and attending the Oktoberfest with some real locals;)
It's a huge traditional fair with lots of massive tents where thousands of people have a good time (obviously accompanied by the obligatory 'maß' of beer) and sing along to German folk songs. What I also like is that everyone wears the traditional outfits which look really cool:)