The locals celebrate fiestas all over Cuenca for the end of the year. Music blares from different homes on the streets and every so often you hear a few fireworks go off. The real fireworks won't happen until January 1, 2013 however, and if you're in Cuenca then hopefully you'll be sitting somewhere where you can watch the beautiful display.
And then there are the ano viejo dolls (old year) displayed in stalls every where in the city. Ecuador celebrates the end of the year as well as the new year to come. The dolls are the size of a person, stuffed with sawdust and then clothed and they look like mean people, some of them look really evil. Apparently people burn the dolls on December 31, and then for some reason, jump over them which is supposed to bring you good luck for the coming new year. Here's a parade celebrating the coming new year.