I was discussing in my guild what is seen if you are by the event stands as an event comes to a close. My understanding is the characters will just disappear.
I wondered what other people thought of the idea of events having a proper opening and closing ceremony. This would entail the NPCs doing a little setup before the event officially kicks off. Then kick it off with some NPC action. The closing ceremony would be the same kind of thing in reverse. Some closing words and the event NPC's going on their way.
This doesn't change the functionality, it could just be a nice bit of attention to detail. For the Jester's festival in particular there was a lot of dialog and action during the event for the Jesters to put on a show. It might not have been a lot more effort to have a bit of something at the opening and closing.
Another logistical issue may be how many people could actually be around exactly as the event starts or ends as to how many people would actually see those details.
My Characters
Xargothius: Breton - JOAT / Magsorc | Orchid the Fair: Orismer - Crafter / Heavy Tank | Voneri Vox: Dunmer - Magplar Healer | Rexorgiana: Imperial - Temptress / Magblade
Phirkius: Altmer - MagSorc | Rexorigus: Imperial - Med Tank / StamKnight | Sven Svedishchef: Nord - Provisioner / Stamplar | Finds-All-Fungi: Argonian - Alchemist/ Stamblade
Emerald-Wild-Guard: Bosmer - Wyrd / StamSorc | Nates Datum Festi: Imperial - Light Tank / StamKnight | Magnolia Desert-Blossom: Redguard - 2 Handed Stamplar | Shadow-Softpaw: Khajiit - StamBlade
Sorcerer | Dragon Knight | Templar | Night Blade