"Punkie Night" is observed on the last Thursday in October in the village of Hinton St. George in the county of Somerset in England. On this night, children carry lanterns made from hollowed-out mangel-wurzels (a kind of beet; in modern days, pumpkins are used) with faces carved into them. They bring these around the village, collecting money and singing the punkie song. Punkie is derived from pumpkin or punk, meaning tinder.
Though the custom is only attested over the last century, and the mangel-wurzel itself was introduced into English agriculture in the late 18th century, "Punkie Night" appears to be much older even than the fable that now accounts for it. The story goes that the wives of Hinton St. George went looking for their wayward husbands at the fair held nearby at Chiselborough, the last Thursday in October, but first hollowed out mangel wurzels in order to make lanterns to light their way.
The drunken husbands saw the eerie lights, thought they were "goolies" (the restless spirits of children who had died before they were baptized), and fled in terror. Children carry the punkies now. The event has spread since about 1960 to the neighboring village of Chiselborough.
Sources: on-line report from the Western Gazette and a National Geographic radio segment. Chiselborough Fair is memorialized by Fair Place in the village. The National Gazetteer of Great Britain and Ireland (1868) reported that there was "a fair for horses and cattle on the last Thursday in October."