Otoshidama - money gift to children
In Japan, adults are supposed to give money gift to their children or grandchildren including relatives'children or sometimes friend's children on New Year's Day. This custom is known as 'otoshidama.' Money is handed out in small,beautifully decorated envelopes called 'pochibukuro'. These can be bought at local super markets or regular stationary stores around the time of the year.
The average amount of given money usually depends on children's age. There's no standard and it really varies from family to family, but in common toddlers to kindergarten children may receive 1000-2000 yen, and elementary school children 3000-5000 yen. Children in higher grades generally receive more money. A lot of kids are looking forward to this gift of the year.