@RareDenver it’s more a celebration of team/school spirit. Generally homecoming week is a “spirit” week at schools. Students wear school colors, plan the parade and decorate the gym or whereever the dance will be held.
Then, during the week, the football team has their “homecoming” game. Sometimes it’s the last home game of the season….That completely depends on the locale. During halftime, there’s usually a parade, band and maybe some Booster Club activites (things to “pep” school spirit).
Usually the night after the game, the homecoming dance takes place in the gym or the cafeteria…or whatever large gathering space the school has. It’s much less formal than prom. Suits and dresses found in one’s closet are acceptable attire.
It’s more about socializing with friends early in the school year, and getting to know your classmates.