Every year, the Asagaya Tanabata festival is held at a covered shopping arcade near JR Asagaya Station.
At this festival, large papier-mâché characters cover the shopping arcade. Characters from anime, video games, and popular culture appear along side colorful orbs. Last year, there was even the Twitter whale. In the past, there's been Sponge Bob and Totoro as well as Mario and Pikachu.
Held in early August, the event marks the Tanabata or Star Festival. While the first Tanabata was celebrated in the 8th century, the first Asagaya Tanabata was about sixty years ago.