This year's version started today. It's worth a look if it's your first time.
Just be prepared for traffic jams, crowds, and various shades of chaos.
The official website has improved this year (but still a bit confusing).
http://www.sanurvillagefestival.com/
I'm biased because I've been to all of them so far. I've modified the festival program with my picks (mainly music). If you go, there are many food stalls, local fashion shows, "cultural performances", local music groups, etc. And did I mention crowds and/chaos?