These streamers and confetti are definitely the colours of Mardi Gras or Carnival, reminiscent of a jester's hat perhaps. Imagine them cascading into the air during a parade or party!
The colours of Mardi Gras are green, purple and gold, and beaded necklaces drape the route of the Mardi Gras parade and are thrown down to people from Mardi Gras floats. Here you can see a Mardi Gras mask, feathers and lots of draped beads!
You might find a "king cake" in many different countries, associated with the Epiphany at the end of the Christmas celebrations. The Bolo Rei in Portugal is a good example.