I hated that time in elementary school when we had to do long-distance running in gym.
Before the next PE class, please clip your fingernails.
"Do you want to play volleyball with us on Physical Education Day?" "Oh, it’s a national holiday, right? Isn’t it October 10th or something?" "Yes, it’s a holiday, but is not October 10th anymore. Now it’s the second Monday of October because of the Happy Monday system."
Remember how 教育 means "education?" Well, the 育 here is referring to the education word, but this time it's a body education. What do you call the body education at school? Physical education or PE.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.