noun
New Year holidays; New Year break
Refers to the consecutive days off around the New Year, typically from late December to early January, when many businesses and schools close.
正月休みは家族と過ごす予定です。
I plan to spend the New Year holidays with my family.
正月休みが明けたら、仕事が忙しくなる。
Once the New Year break is over, work will get busy.
Refers to the New Year celebration itself, not necessarily the days off work.
Compound of 正月 (New Year) and 休み (rest, holiday).