Vesak is apart from commemorating the birth, enlightenment and death (parinibbana) of the Buddha, also celebrates the arising of Wisdom in the world shrouded by darkness. This is denoted by lighting lamps, lanterns, bulbs etc. to dispel the darkness during Vesak. In Asian countries and in my case in Sri Lanka, Vesak Lanterns are made by children (and adults) as a part of the celebrations.
It’s a fun thing for kids and adults to do. Here’s another way to do it:
There are collapsed plastic frames available for this and it looks great when hung in or outside the local temple: