Its a year end party with lots of beautiful women, music, comedy, etc. that is broadcast on Tico TV. Here is a link (in spanish) that will tell you more:
http://www.elchinamo.com.
One short translated quote from that website on last year's celebration:
"According to the Nation "The formula of this program is not a secret, but it is a "science" - cheerful animation, music, contests, humor and models embedded in tight outfits, but this year they were not "outrageously silicone" as past editions were."