Pi Day is an annual celebration of the mathematical constant π (pi). Pi Day is observed on March 14 (3/14 in the month/day format) since 3, 1, and 4 are the first three significant digits of π. In 2009, the United States House of Representatives supported the designation of Pi Day.

In 1988, the earliest known official or large-scale celebration of Pi Day was organized by Larry Shaw at the San Francisco Exploratorium, where Shaw worked as a physicist, with staff and public marching around one of its circular spaces, then consuming fruit pies. The Exploratorium continues to hold Pi Day celebrations.

Pi Day has been observed in many ways, including eating pie, throwing pies and discussing the significance of the number π, due to a pun based on the words "pi" and "pie" being homophones in English ( /paɪ/), and the coincidental circular nature of a pie. Also, some schools hold competitions as to which student can recall pi to the highest number of decimal places.

More Info: en.wikipedia.org