The Spanish version involves a matador, elaborately costumed and carrying a red cape, entering the ring to face an enraged bull. The matador then attracts the bull's attention with the cape in an attempt to cause the bull to charge him (matadors are almost exclusively male). However, in most cases, the bull will attempt to strike the cape rather than the matador and go harmlessly by.
After a period of time, picadores on (blindfolded) horses go past the bull and put lances into the bull's neck, further enraging and weakening the bull, and, crucially, weakening its neck muscles. Further blades are placed in the bull as time goes by.
Finally, the matador comes closer to the weakened bull as its charges become fewer, and finally stabs the bull in the heart with a sword, finally killing it. Very occasionally, a particularly resilient bull will be spared.
A typical bullfight will involve three matadors fighting two bulls each though, occasionally, a mano-a-mano confronts two matadors fighting three bulls each.
Trophies and prizes are awarded to matadors, mostly according to the reaction of the crowd to the fight.
The Portuguese version is conducted on horseback and does not involve injuring the bull.
Animal rights campaigners object strongly to bullfighting on account to the slow, painful death the bull suffers, and kill bullfights are banned in most countries. "Bloodless" variations, though, are permitted and have attracted a following in California.