small pieces or streamers of colored paper that are thrown around on festive occasions (as at a wedding)
"The bride and groom threw confetti into the air as they walked down the aisle."
Small pieces or strips (streamers) of colored paper or other material (metal, plaster, etc) generally thrown about at festive occasions, especially at weddings and in victory celebrations.
"Colorful confetti filled the air as guests cheered to celebrate the team's championship victory."