What do you think of a multi cultural day celebrated similar to pride parade?

I had a thought that a day where we all dress like our individual peoples (scots in kilts, mexicans in sombraros, africans dishikis, etc.) people encouraged, not forced how to dress. Like a Halloween of history and events to cater for each peoples (everyone welcome to each). Wouldnt it be halarious? Would it have violent consequences? Or more income than Toronto's Pride Parade?