Celebrating 32 years in Downtown Phoenix, the Cinco de Mayo Phoenix Festival is a historic staple of the City of Phoenix and has entertained over 3 million attendees. Enjoy music, Lucha libre, baile folklorico, great food and drink, and activities for the entire family. Cinco De Mayo Downtown Phoenix Festival continues its core value to raise scholarship funds for minority students’ higher education. 32 Years of Celebrating Culture, Tradition, and Family. $15 – $75.