A masquerade is known as a grand masked ball, a party, or a fun social event wherein people get to dress up in lavish attire and, understandably, wear their most elaborate masks.
Masquerade definition: a party, dance, or other festive gathering of persons wearing masks and other disguises, and often elegant, historical, or fantastic costumes..
masquerade noun (PARTY) (also masquerade ball, masquerade party) a party or dance where people wear masks (= coverings over part or all of the face) or other disguises (= clothes that hide who you are or make you look like someone else):
A masquerade ball (or bal masqué) is a special kind of formal ball which many participants attend in costume wearing masks. (Compare the word "masque"—a formal written and sung court pageant.)
A masquerade is an attempt to deceive people about the true nature or identity of something. He told a news conference that the elections would be a masquerade.
1. a festive gathering of people wearing masks and costumes. 2. a costume worn at such a gathering. 3. false outward show; pretense. 4. to represent oneself falsely. 5. to disguise oneself. 6. to take part in a masquerade. mas`quer•ad′er, n.
The act of wearing a mask or dressing up in a costume for, or as if for, a masquerade ball. (figuratively) An act of living under false pretenses; a concealment of something by a false or unreal show; a disguise, a pretence; also, a pretentious display. quotations
There are ten meanings listed in OED's entry for the word masquerade, five of which are labelled obsolete. See ‘Meaning & use’ for definitions, usage, and quotation evidence.
mas•quer•ade (mas′kə rād′), n., v., -ad•ed, -ad•ing. n. a party, dance, or other festive gathering of persons wearing masks and other disguises, and often elegant, historical, or fantastic costumes. a costume or disguise worn at such a gathering. pretense: a hypocrite's masquerade of virtue.