The location, as usual, is Vörösmarty Square, in the very heart of the Hungarian capital.
The fair, which runs until the end of the year, offers folk and applied art products, Christmas presents, but you can also find here food stalls and stages with various cultural programs.
I am sorry to say but I have never visited it, so I cannot tell you about the atmosphere and the quality
You can read about Budapest Christmas Fair at different websites, but careful, most of them are simple promotion tools.
http://www.budapestinfo.hu/budapest-christmas-fair.html
http://www.hungarybudapestguide.com/activities/events-and-concerts/christmas-market-budapest
http://www.budapest-tourist-guide.com/budapest-christmas-fair.html
http://www.christmasmarkets.com/Hungary/budapest-christmas-market.html
http://visitbudapest.travel/budapest-events/budapest-christmas-market/
http://www.youtube.com/watch?v=4BtWiD61WAY
[…] for half an hour in the very centre of Budapest in the cold Hungarian winter. They stopped at Budapest Christmas Fair to gave away small gifts. The registry fee of the cheerful event goes to charity and support ill […]