I spent some time living in Asia and New Years is a BIG deal there. Some traditions I picked up from over there include:
Making lanterns; Lucy holds her's up and says, "It's my Chinese".

The giving of red envelopes. In Asia they are filled with money. I plan to fill them with other little treats until my children are a bit older.

We also plan to eat Chinese Food for New Years as well, but my favorite tradition by far is how they clean everything so you have a fresh clean start with the start of a new year.