Loy Krathong Song with lyrics and meaning in English. The Loy Krathong festival falls on the full-moon day of the 12th Thai lunar calendar month corresponding with the Gregorian calendar month of November. “Loy ลอย” in Thai means to float; “Krathong กระทง” means a small container or basket decorated with leaves, flowers, incense and candles. Hence, Loy Krathong means “to float a basket” which is what many people do especially in the evening. The festival is a merry and fun-filled occasion, and includes various traditional and cultural performances such as the Ramwong Thai folk dance. Many people will also dedicate this festival to virtuous acts of gratitude, forgiveness, charities and merit-making, which brings one a sense of ease and happiness.