
There were once separate holidays for Lincoln's Birthday (February 12th) and Washington's Birthday (February 22nd under the current calendar). Washington's Birthday was a federal holiday celebrated on the third Monday of February. An Act of Congress passed in 1880 made it a holiday for government offices in the District of Columbia and in 1885 it was expanded to include all federal offices. Washington's birthday was celebrated on Washington's actual birthday, February 22. On January 1, 1971, the federal holiday was shifted to the third Monday in February by the Uniform Monday Holiday Act, placing it between February 15 and 21. (Ironically, since the change it can never land on Washington's actual birthday of February 22nd).
The first attempt to create a Presidents Day occurred in 1951 when the "President's Day National Committee" was formed. The purpose was not to honor any particular President, but to honor the office of the Presidency. It was first thought that March 4, the original inauguration day, should be deemed Presidents Day. However the Senate Judiciary Committee felt that, because of its proximity to Lincoln's and Washington Birthdays, three holidays so close together would be too much. The name of the holiday was kept as Washington's Birthday, but by the mid-1980s, thanks to advertisers, the term "Presidents' Day" began to be commonly used and about a dozen state governments officially renamed their Washington's Birthday observances as "Presidents' Day", "Washington and Lincoln Day", or other such designations.
Today, this holiday has become well-known for being a day in which many merchants, especially car dealers, hold sales. Until the late 1980s, corporate businesses generally closed on this day. Some schools, which used to close for a single day for both Lincoln's and Washington's birthday, now often close for the entire week (beginning with the Monday holiday) as a "mid-winter recess".
Many cities offer their own unique way of marking the holiday. For example, Alexandria, Virginia, hosts a month-long tribute, including the longest running George Washington Birthday parade, while the community of Eustis, Florida, continues its annual "George Fest" celebration begun in 1902. In Denver, Colorado there is a society dedicated to observing the day. At the George Washington Birthplace National Monument in Westmoreland County, Virginia, and at Mount Vernon in Alexandria, Virginia, visitors are treated to birthday celebrations throughout the federal holiday weekend and through February 22. In Alabama the third Monday in February commemorates the birthdays of both George Washington and Thomas Jefferson (who was born in April). In Arkansas the third Monday in February is "George Washington's Birthday and Daisy Gatson Bates Day," an official state holiday. In New Mexico Presidents Day, at least as a state government paid holiday, is observed on the Friday following Thanksgiving.
Since 1862 there has been a tradition in the United States Senate that George Washington's Farewell Address be read on his birthday. The annual tradition continues with the reading of the address on or near Washington's Birthday.

Here's something from the Punctuation Police: Apparently the holiday is the subject of a spelling controversy. Both Presidents Day and Presidents' Day are are considered correct by dictionaries and usage manuals. Presidents' Day was once the predominant style, and it is still favored by the majority of significant authorities—notably, The Chicago Manual of Style (followed by most book publishers and some magazines), The American Heritage Dictionary of the English Language, Webster's Third International Dictionary, and Garner's Modern American Usage. In recent years, the popularity of Presidents Day has increased. This style is favored by the Associated Press Stylebook (followed by most newspapers and some magazines) and the Writer's Digest Grammar Desk Reference. President's Day is a misspelling when used with the intention of celebrating more than one individual. Though President's Day is sometimes seen in print — even sometimes on government Web sites, this style is not endorsed by any major dictionary or usage authority.
No matter how you spell it, I hope you have a happy Presidents Day (or Presidents' Day). And now, in keeping with a tradition of this community, I give you the 2020

How many former Vice-Presidents have gone on to be ELECTED as President?
Who is the only President to be born in Nebraska?
According to his biographers, which President is alleged to have been elected without ever having voted in a presidential election before?
What is the current salary of the President of the United States (not including allowances or perks)?
Which President of the United States was once a prisoner of war?
What was the name of the play that Abraham Lincoln went to see at Ford's Theatre on the night he was assassinated?
Which sitting President joined a volunteer fire brigade to help fight a fire at the Library of Congress?
Which President received a speeding ticket from a DC policeman?
Which President wrote a book called The Naval War of 1812, a work that was praised for its scholarship and style?
Which President once filed a report claiming that he had seen a UFO?
Which future president accused sitting President James K. Polk of going to war against Mexico on bogus grounds?
Who was the only president who never married?
Which President fired a secret service man for getting lost in the woods with the first lady for over two hours?
Which President's wife died in October during that President's campaign for re-election?
Which of these men did NOT run as the Republican candidate for president against Franklin Delano Roosevelt?
Which President simultaneously held two cabinet posts in the cabinet of his predecessor?
Who was the first sitting President to visit Canada?
Who was the first President to have been divorced before being elected?
Whose Presidential Library and Museum is located in West Branch, Iowa?
On September 27, 2019, President Donald Trump changed his official state of residence from New York to what state?

Happy Presidents Day 2020 everyone!