To understand the impact of buring firework (FW) particles on air quality and human health during Spring Festival (SF), 15 elements, 10 water-soluble ions and 8 fractions of carbonaceous species in atmospheric particulate matter (PM1, aerodynamic diameter < 1 μm) in Changchun were investigated in the SF period of 2017 (17 January to 10 February). In the first full month, continuous daily PM1 was collected on the roof of the Engineering Building at Jilin Jianzhu University in Changchun city. Water-soluble inorganic ions (WSIIs) were measured by ion chromatography, inorganic elements were gained by inductively coupled plasma optical emission spectrometry (ICP-OES), and organic and elemental carbon were tested by an organic carbon (OC)/elemental carbon (EC) analyzer (DRI model 2001A). The concentrations of PM1 ranged from 15.1 to 128.52 μg/m3, with an average of 40.2 μg/m3. Concentrations of 15 elements were determined in this period, which contributed 5.21%–31.23% of PM1. We used Igeo values to determine the contamination levels of elements including the carcinogenic elements As, Cd, Ni, and Pb. The results show that the values of elements, such as As, Cd, Ni, Pb, Sb, Sn, Co, and Zn, are >5, indicating extreme contamination. WSIIs account for 50.81% of PM1, and the values were lower in the pre-SF period and higher post-SF. The concentrations of NO3− and SO42− were the two highest with constant ratios over the whole period, indicating the consumption of coal and gasoline. The K+ value can reflect the fireworks emissions. Besides elements and WSIIs, carbon species account for 28.48% of PM1 on average. A higher ratio between OC and EC revealed a small percentage of vehicles and a high contribution of coal and biomass consumption. Elements can affect the body via three routes: oral, respiratory, and dermal. According to average daily dose (ADD) calculations, ADD values of the ingestion pathway were two or four times greater than those of the other two routes. Moreover, the exposure of all three pathways in children was greater than in adults. The excess cancer risk (ECR) of Pb, Ni, As, Cd, and Cr was beyond the safety limit (10−6 to 10−4), indicating cancer risk in both adults and children. This study provides detailed composition data and the first report on FW particles during the SF period and their potential impact on human health in Changchun city.