My favorite would have to be Pilgrim's Bounty. It gives us the chance to level a skill that most people take for granted (cooking) all the way past 300, sooner or later it will need to go further. Not to mention I love food, and this is our chance to become great in-game chefs...lol
I have to go with the Lunar Festival. It's got something for everyone: talking to elders gets you gold and XP if you're leveling (plus incentive to learn those last few flight paths), clothes for RPers, patterns and schematics, a holiday boss (Omen), an item (Elune's Lantern) that can help you mark positions in dungeons and raids, plus fireworks and cool-looking beams of light all over the place.
"Love is in the Air" - The most positive and charming event. Just love it, especially event's pet :)
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Hallow's End - it seems to get the most attention for updates year to year. Fun theme and quests.
Hallow's EndWhen I started playing WoW (5 years ago), Hallow's End was going on and I was overwhelmed by all the goodies and fun that went on with the not only the game, but the treats and tricking going on around Azeroth. I remember what fun I had back then every year and am glad to be part of the game.Now if only I could get the HH mount. Next year!
My favourite holiday is Noblegarden, cause this was the first holiday I ever experienced in WoW, and also when I met the love of my life :)