Guy Fawkes and Co. were patsies in a Government sponsored false-flag operation to turn Britain against Catholics, and towards the C of E. The Nov 5th burning of the "guy" was an anti-catholic symbol meant to incite hatred and the killing of Catholics..
Wiki tells a different version
Guy Fawkes Night, also known as Guy Fawkes Day, Bonfire Night and Firework Night, is an annual commemoration observed on 5 November, primarily in Great Britain. Its history begins with the events of 5 November 1605, when Guy Fawkes, a member of the Gunpowder Plot, was arrested while guarding explosives the plotters had placed beneath the House of Lords. Celebrating the fact that King James I had survived the attempt on his life, people lit bonfires around London, and months later the introduction of the Observance of 5th November Act enforced an annual public day of thanksgiving for the plot's failure.