What is Holi? Rooted in Hindu mythology, Holi also celebrates the triumph of good over evil — symbolism that correlates with the passing of winter. The Holi Festival’s history stems from the legend of a female demon and her brother, who believed was the ruler of the universe, according to CNN. His son, however, followed Vishnu, the protector of the universe, turning his back on the demon. The demon siblings plotted to kill the sun, but failed and died after Vishnu protected the son, who in turn became the king.