Red flags are hung all along the street of my neighbourhood in conjunction of Chinese New Year Festival. Even though the celebration ended on the 15th day of Chinese Lunar Calendar (6th Feb 2012), buy the decorations are still up. Probably it's because Lap Chun for this year falls on 4th Feb. Read more about Lap Chun in the given link as my knowledge of it is very little.
To me, Chinese New Year will not be over till the end of Feb! I can still hear the rhythm of drums from the lion dance and the songs of Chinese New Year playing in my mind. So, the festive spirit is still on-going!!