This is the Tagata Shrine Festival in Japan, which celebrates something which we all know and love. 
It's a ritual going back hundreds of years, for the purpose of guaranteeing good crops and increased fertility! 
The girls holding the smaller versions of the "object" are not there as sex goddesses; they are there as representatives of the shrine itself. 
In any case, everyone attending the festival seems to be wearing a smile. 
See the short clip