As the name suggests, Phagli fair falls during the month of Phalgun (i.e. 2nd half of February and 1st half of March). Phagli is celebrated in most of the villages of Kullu valley but it holds a very important place amongst the people of village Malana . It depicts the victory of good over evil and shows the struggle between God and devil for supremacy. Ultimately, God emerges victorious.

A person is disguised as a demon by putting a mask on his face and tying some grass around his body. God is represented by a 'Gur' (God's spokesman). They perform special dances called Deo Khel (acted upon by the gur) and Raksh Khel (performed by the person who is personating the demon). The demon was known as "Tundi Raksh" who used to trouble the people living between Malana and Archhandi villages. He was finally killed by Manu Rishi and Shandalya Rishi (sages).

To commemorate this event, the fair is held in Malana, Jana, Soil, and Halan (villages) and in all the temples of Jamlu. Yellow barley grass is grown by the people before the festival. This grass is grown under shade in their houses and then worn by the villagers in the form of garlands. Some people simply wear it on their caps during the fair.