Yes, it comes from the word "holiday":
How to pronounce the days of the week:
In Rio, streets are closed off in neighborhoods different days of the week for street markets where you can buy fresh fruits, vegetables, eggs, chicken, fish, flowers, coconut water and many other items. These are known as feiras.
In the Ipanema neighborhood on Sundays, you will find the Feira Hippie de Ipanema. Many handcrafted items and artwork. http://www.feirahippieipanema.com/
Near Maracanã stadium and Rio Zoo is Feira de São Cristóvão. There you will find food and items typical of North East Brazil. There is live music, dancing and plenty of drinking. It is open on the weekends. https://www.feiradesaocristovao.org.br/