Dreams about festivals often symbolize joy, celebration, and a sense of community. The "color festival" in your dream may represent a desire for more vibrancy and excitement in your life or a longing to express yourself creatively. The contrasting black and white people could signify the dualities you experience, such as joy and sadness, or different aspects of your personality that you are trying to reconcile.

The colorful eye makeup may suggest a desire to enhance your perspective or how you present yourself to the world. It could indicate that you are exploring your identity or how you wish to be seen by others. The act of throwing colorful powder can symbolize the release of pent-up emotions or a need to let go of inhibitions, inviting more color and fun into your life.

Overall, this dream might encourage you to embrace your individuality and express your emotions more freely. Consider what aspects of your life could use more vibrancy or what creative outlets you might want to explore.