Gala, fair (4)
I believe the answer is:
fete
This clue is a double definition.
'gala' is the first definition.
(both can mean a festive event)
'fair' is the second definition.
(I've seen this before)
(Other definitions for fete that I've seen before include "Wine and dine" , "Lavishly entertain; charity function" , "Festival; gala" , "Festival, fiesta" , "Village festival" .)