Angpao or hongbao, is a traditional red envelope commonly used in Filipino and Chinese cultures to give money as a gift during special occasions. Symbolizing good luck, prosperity, and blessings, ampaos are often given during Lunar New Year, birthdays, weddings, baptisms, or other celebratory events. The red color represents good fortune and wards off bad luck, while the money inside is meant to share happiness and abundance with the recipient.