Okay kiddo, so a bladder festival is a kind of celebration where people have fun and do things together. The word "bladder" means a bag that can hold air or water, kind of like a balloon or a water balloon.
In the past, people used to fill animal bladders with air or water and play games with them during these festivals. They would kick them around like a ball or toss them back and forth with their friends.
Nowadays, bladder festivals may not use actual bladders anymore, but the name has stuck around because of the fun memories from the past. These festivals might include parades, music, dancing, and games.
So basically, a bladder festival is just a fun party where people come together to have a good time and enjoy each other's company.