UPDATE #2: Here are some of the text strings related to this event:

• ”Congratulations, this household has completed the Day of the Dead Challenge!nnTo collect your reward, place each of the nine unique skulls into a Sugar Skull Display Case. Then, select the Honor the Dead interaction to acquire a gilded sugar skull and enhanced interactions with the Grim Reaper.”
• ”The Day of the Dead Challenge ends in <span class=”timeremaining”>{3.Number} days and {2.Number} hours.</span>nnThis household has collected {0.Number} of {1.Number} sugar skulls.nnTo participate in the challenge, use your Sim’s cell phone, select the Social tab, and then Call Jasmine Holiday. When Jasmine arrives, speak with her to learn about the Day of the Dead festivities that are taking place!”
• ”Sims players around the world have collected {0.Number} total sugar skulls!”
• ”Honor those who have passed with a festive tribute to their lives.”

UPDATE: We were able to discover more information about the event:

• The event ends on 4th of November at 5PM. (No info on start time yet)
• There’s a new “Candy Skulls” collection
• There are appears to be ten different objects in the collection, and there’s an “Ask for Skull” interaction
• Three new interactions: “Discuss Afterlife”, “Enthuse About Sugar Skulls” and “Complain about Spirits”
• There’s some kind of “celebrate” interaction, which appears to temporarily replace a Sim’s clothes

The latest Sims 4 Update, along some new objects and CAS items, has patched in some details about an upcoming event for The Sims 4 called ”Day Of The Dead”.

We found the following official screen related to this event:

The event seems to be related with the object down below, which has yet to be unlocked:

When each spot in this case case contains a unique sugar skull, the ability to ”Honor the Dead” will unlock. This interaction causes colorful smoke to spill forth, and your Sim will communie with their inner Catrina to allow for enhanced interactions with the Grim Reaper.

Sugar skulls are received as gifts from other Sims who are celebrating the Day of the Dead. They can only be acquired during the Day of the Dead Challenge.

We’re still finding new information about this event so stay tuned!