The most famous cultural manifestation in the city is the Carnival(Carnaval Party). Oliveira's Carnaval is one of the most famous in Minas Gerais. The main figure of the city's Carnaval is the "Cainágua", which literally means "fall into the water" or someone who falls into the water. It is said that the "Caináguas" are an adaption of the masked figures in Venice's Carnaval. In Oliveira, the "Caináguas" were created from old roleplays where people wore masks to become unrecognizable during the party, so it would allow the party goers to get in touch with any other kind of people.