"It's New Year's Eve" is a Sesame Street song from the New Year's special, Sesame Street Stays Up Late.
The song is sung by Alfa, Max Mekker and Bjarne Betjent (of Sesam Stasjon) inside a large sled with kids of Lillehammer, Norway about the joy of New Year's Eve. The kids carry candles around and eventually form a large heart with them.