The festival in Mexico that commemorates deceased loved ones with altars and offerings is called Día de los Muertos (Day of the Dead). This vibrant celebration honors the memory of those who have passed away, inviting them back to the world of the living. Families create beautiful altars adorned with photos, candles, and favorite foods of the deceased. Colorful decorations, skulls, and marigolds symbolize the connection between life and death. The festival emphasizes remembrance, love, and the joy of life, allowing communities to celebrate their cultural heritage while honoring their ancestors.