Holiday Name Modifiers can be used to display varying text for the same holiday, depending on the script. It is often used to have the same holiday displayed in different languages.
For example we could have holidays with multiple translations in the holiday name editor of the Holidays Manager:
and to get the French name of the holiday we would use the token
would display the line corresponding to FRE=. Note that the filters at the left of the equal sing can be anything you want.