I tend to prefer bonfires, since I generally go to them with my friends and have a lot of fun as opposed to fireworks, which I only tend to see the Fourth of July and traditionally is only when my parents decide to go to some big show, usually at my mother's workplace.
It involves being cold and a lot of waiting for a 30-minute production which, while impressive, is NOT worth the rest of the crap.
Fireworks just don't have a whole lof of hold on me.