The mikoshi, lavishly decorate palanquins, are considered places where the kami (Shinto gods) are descending during the festival, and they are paraded around the shrine's neighborhood, to "entertain" the kami. And of course, the participants and the guests are thoroughly entertained as well...
EXIF info:
Nikon D90
Lens: VR 18-55mm F/3.5-5.6G
Focal Length: 18mm
Aperture: F/5.6
Shutter Speed: 1/640s
ISO Sensitivity: ISO 250