Among all other important Buddhist festivals observed and celebrated in Sikkim, Losoong Festival is considered a very significant one, observed mainly in the rural part of Sikkim. The observation of Losoong symbolizes the conclusion of the harvest season and also the ending of the tenth month of the Tibetan Year. Taking signal from a good harvest the common people pray for much healthier prospects for the subsequent harvest.

The Losoong festival is made special by Chaam dancing at the monasteries at Phodong, Palace, and Rumtek.

The Chaam dance symbolizes the banishment of the wicked spirits of the year and it welcomes the superior spirit of the New Year.