La Marijaia is the symbol of "La Semana Grande de Bilbao" (which is the main festivity in Bilbao, Basque Country, Spain), it was designed by the artist, Mari Puri Herrero in 1978.
The basque name Marijaia would mean "Lady of the parties" in spanish and it tries to portrait a woman with the traditional basque look, her arms are up in signal of optimism and dance.
Every year a Marijaia is elaborated and during the whole week of the festivities she's located on the balcony of Teatro Arriaga. On the last day she's burned as a way to saying good bye to the festivities after nine days.
It definitely sounds like a lot of fun!