1. It is preferable for one to wear white clothing as the Hadith explains that white clothing is the best.
عن ابن عباس رضي الله عنهما قال : قال رسول الله صلى الله عليه و سلم ألبسوا من ثيابكم البياض فإنها خير ثيابكم وكفنوا فيها موتاكم (الترمذي رقم 994)
Hadhrat Ibn Abbaas (Radhiallahu Anhuma) reports that Rasulullah (Sallallahu Alaihi Wasallam) said: “Wear white clothing, for indeed it is the best of clothes, and enshroud your deceased in it.”
2. One should wear his best clothes on the days of Eid and Jumuah, as these days are the greatest and most virtuous days. It is preferable for one to wear white clothing on these days.
عن عبد الله بن سلام رضي الله عنه أنه سمع رسول الله صلى الله عليه و سلم يقول على المنبر في يوم الجمعة ما على أحدكم لو اشترى ثوبين ليوم الجمعة سوى ثوب مهنته (ابن ماجة ص 77)
Hadhrat Abdullah ibn Salaam (Radhiallahu Anhu) reports that he heard Rasulullah (Sallallahu Alaihi Wasallam) mention while he was on the mimbar delivering the khutbah on the day of Jum’uah: “Why don’t you purchase a pair of clothing and keep it exclusive for wearing on the day of Jum’uah, apart from your normal daily clothing.”
عن جابر رضي الله عنهما قال كانت للنبي صلى الله عليه وسلم جبة يلبسها في العيدين، ويوم الجمعة. (صحيح ابن خزيمة رقم 1766)
Hadhrat Jaabir (Radhiallahu Anhuma) reports that Rasulullah (Sallallahu Alaihi Wasallam) had a jubbah (a robe or long garment) that he would wear specially on the days of Eid and the day of Jumuah.