Religious Hindu Festival of Spring Vasant Panchami

Hi everyone! We have some questions about this video, which seems to be about an Indian ceremony. Can you help us to identify it?
We were thinking about the “Vasant panchami”, but your comments are welcome! We would like to answer the following questions:

• What are these persons celebrating? How long is it celebrated?
• In which region of India does it take place?
• What about the color yellow? Does it refer to the spring / to the field mustard?

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