What is the word that refers to the collective spirit of all deceased loved ones and is also the name for the festival of the deceased ancestors which is an important tradition for the Yoruba people?

Egungun

Explanation:

Egungun -

It is the cultural practice done in the West Africa, by the Yoruba group.

According to this culture, the spirit of the deceased ancestors, constantly bless, punish, warn and protect their living relatives, as how their relatives honor or neglect them.

It is considered to be an important culture pf the Yoruba people.

Hence, from the given information of the question,

The correct term is Egungun.