If your not aware of Carnival in Brazil then you should definatly check into it. The entire country shuts down for four days and lose themselves in exotic beats and booze. Dates differ somewhat depending on what state you visit but are all towards the end of February.
VARIG has some amazing sales on fares but they have to be purchased through the internet and as soon as possible as this will sell out quick
There are some good hostels in Brazil but most do not have websites so if CD doesnt beat me to it, I'll try and list that info soon.
Dont forget the economy of Brazil leans in our favor, for both Canada and US as well as Europe...
A big glass of the good stuff will cost you about .50 cents USD
See ya there!