Just a little festival (4)

I believe the answer is:

whit

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'festival' is the definition.
Although both the answer and definition are singular nouns, I cannot understand how one could define the other.

I don't understand the remainder of the clue.

Can you help me to learn more?

(Other definitions for whit that I've seen before include "Small piece - 7th Sunday after Easter" , "Least significant" , "A little" , "bit of Sunday?" , "Very small amount" .)

I've seen this clue in The Telegraph.

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