I'd use HOLIDAY for a specific holiday: "My holiday in Jamaica was amazing." Or maybe for a general comment like, "I need a holiday!"
If I didn't need to be specific, well, then I'd probably say HOLIDAYS. It covers a number of holidays, or a period of time such as the summer holiday/free time away from school etc. "The summer holidays are great!" probably refers to the time you are free and COULD go ON HOLIDAY if you want. Or you could just sit in your garden!
BUT be careful, because "The summer holidays" could be a plural, as in - The summer holidays we have in Greece are wonderful. We go for a two-week holiday every July.
Confusing? Yes, it can be. So, if in doubt, ASK someone to clarify what they mean.
Have a look at this > "During the summer holidays I go on holiday!" (one holiday). > During the summer holidays I go on holidays!" (more than one holiday)