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1.
Short for "Renaissance faire."

A festival celebrating and reenacting the romance and glory of the Renaissance.

Performers portray fun, entertaining, and (usually) historically accurate characters in an improv environment for the amusement of patrons.

Stage acts provide a variety of entertaining spectacles, including live music, juggling, and stage combat.

Artisans and shopkeepers sell their wares, usually related to the Renaissance in some way i.e. period weaponry, period clothing (known in the renfaire circuit as "garb"), handmade soaps, stained glass, feast gear, etc.

Kitchens and carts sell Renaissance-themed foods and beverages.
Oh, you're going to a renfaire? I want to go too!
by MacKay July 05, 2006
 
2.
yea, tis the best place in the world; tis the place where rennies gather!
lords and ladies, come hither ro the renfaire.
by Beeotch August 26, 2004
 
3.
where u can go to pretend like u live in the renaissance, wear garb, and find hot people dressed in garb
cait and i went to the renfaire 3 weeks ago.
by YoDo August 26, 2004