This was the first holiday to be added to the Muddled Calendar, and it marked the beginning of the 2th initiative, just one of the innovative contributions of the legendary Mr7k. In his words:
January the Twoth will, henceforth, be known as New Year’s Day (Observed)tm. For those amoung us who are too (choose one or more) drunk (still), hungover, tired, way into watching football, or otherwise occupied to start the new year on January the 1st, New Year’s Day (Observed)tm is just the ticket. Think of it as a much needed mulligan on the first tee of each year.