February in Sydney is really about two things; Lunar New Year and Mardi Gras!
Usually the first two weeks are filled with all things Asian including great food, markets, lanterns and cultural dancing and events across the city; there’s even dragon boat races on Darling Harbour!
Once Lunar New Year celebrations are over then comes the colourful events of Mardi Gras. Most people now about the big nightime parade down Oxford street that draws tens of thousands of 
spectators on the first Sturday in March, but Mardi gras starts much earlier than this with a cultural program of events, art exhibitions and the queer film festival. A great day is Fair Day usually about the the second or third weekend of February. It’s a huge colourful picnic and music day held in the park. There are dog dress up shows and talent programs, food stalls and good music. There are even sporting events. You don’t have to be Gay, 
Lesbian, Bi, Trans or Queer to join in, everyone is welcome and it is a great celebration of diversity!
more info – www.mardigras.org.au