DH's family gets a bit dressed up but not super formal. And there is no themed table setting or anything like that (heck, the ILs don't even have matching plates anymore since they moved to their cottage and sold their house).
A group of my friends, on the other hand, often has pretty fancy holiday and/or New Year's parties. They aren't usually a sit down dinner, but lots of decorating and fancy food (potluck style, though) and everybody getting dressed up.